Bank Of India Has Made No ECL Provisions Yet. Here's When it Plans To Start
Bank of India made an announcement.
· NDTV Profit
Bank of India has yet to make any provisions under the expected credit loss framework, with MD and CEO Rajneesh Karnatak saying the bank plans to begin front-loading provisions from the December quarter.
The analysis
Against that, the stock is -3.8% on the day at ₹131.00, and has returned -5.4% over three months. It sits 26% below its 52-week high, which means a good deal of bad news was already in the price. The banks sector has moved -4.2% over the same period, so Bank of India is running 1.2 points behind its peers.
For Bank of India, the question is how much of this is already reflected in the price and how much re-rates the banks peer set alongside it.
Market context
- The company directly in focus is BANKINDIA.
- Sector exposure: Banks.
- The immediate tone of coverage reads negative.
In this story
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