Bank Of India To Weigh Infrastructure Bond Issue Next Week

Bank of India on Friday said its board will consider a proposal to raise funds through long-term infrastructure bonds at its scheduled meeting on Thursday. The public sector lender disclosed the plan in a filing to stock exchanges.

The fundraise comes on the back of a strong financial performance in the March quarter, when the bank’s net profit jumped over 80% on year to ₹26.26 billion. 

The surge was driven by higher other income, which nearly doubled to ₹34.28 billion, aided by treasury gains and recoveries from written-off accounts. Provisions also fell during the quarter.