BANKINDIA

Feb 18 (Reuters) - Bank of India Ltd BOI.NS:

• ISSUED, ALLOTTED BONDS UPTO 26.9 BILLION RUPEES ON PRIVATE PLACEMENT BASIS

Source text: ID:nBSE7DQmNp

Further company coverage: BOI.NS

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MUMBAI, Feb 14 (Reuters) - State-run Bank of India BOI.NS has accepted bids worth 26.90 billion rupees ($309.6 million) for infrastructure bonds maturing in 10 years, three bankers said on Friday.

The lender will pay an annual coupon of 7.50% and had invited coupon and commitment bids for the issue earlier in the day, they said.

Bank of India did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on February 14:

* Size includes base plus greenshoe for some issues

($1 = 86.8750 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)

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MUMBAI, Feb 12 (Reuters) - State-run Bank of India BOI.NS plans to raise 50 billion rupees ($575.4 million) through a sale of infrastructure bonds maturing in 10 years, two bankers said on Wednesday.

The lender has invited coupon and commitment bids for the issue on Friday, they said.

Bank of India did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on February 12:

* Size includes base plus greenshoe for some issues

($1 = 86.8925 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Sonia Cheema)

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Jan 21 (Reuters) - Bank of India Ltd BOI.NS:

• TO CONSIDER FUND RAISING VIA LONG TERM BONDS

• TO CONSIDER FUND RAISING BY ISSUE OF LONG TERM (INFRA) BONDS

Source text: ID:nNSE2wM2ZV

Further company coverage: BOI.NS

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Dec 31 (Reuters) - Bank of India Ltd BOI.NS:

• BANK OF INDIA LTD -IBU GIFT CITY BRANCH BORROWS USD 300 MILLION SYNDICATED TERM LOAN

Source text: ID:nNSE42TH9L

Further company coverage: BOI.NS

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Moves position of 'to India' in paragraph 7, no other changes

By Rishika Sadam and Siddhi Nayak

Nov 28 (Reuters) - Indian banks are reviewing their Adani exposure and whether they need to tighten due diligence, eight bankers said on Thursday, after the group's billionaire founder Gautam Adani was indicted by U.S. authorities over an alleged $265 million bribery scheme.

Adani Group's listed stocks, which at one point saw as much as $34 billion wiped off their market value, meanwhile recovered ground as some partners and investors rallied behind it.

State Bank of India SBI.NS will not stop lending to ongoing Adani projects that are nearing completion, two sources told Reuters, but will exercise caution when disbursing loans to ensure all terms and conditions are being met.

Bank of India BOI.NS, Union Bank UNBK.NS, ICICI Bank ICBK.NS, Canara Bank CNBK.NS, IDBI Bank IDBI.NS and RBL Bank RATB.NS, which have relatively smaller exposures to the Adani Group, are undertaking similar exercises, sources said.

A regulatory source aware of the development said from a banking system perspective that no entity was over-exposed to the Adani group and there was no cause for concern.

Earlier on Thursday, Israel said it wants Adani Group to continue to invest there, adding that the U.S. allegations were not "problematic" from its perspective.

"We wish Adani and all Indian companies continue to invest in Israel," Israel's Ambassador to India Reuven Azar told Reuters in an interview.

The Adani Group holds a 70% stake in Haifa port in northern Israel and is involved in projects with Israeli firms, including manufacturing military drones and commercial semiconductors.

Adani and seven others are accused by U.S. authorities of being part of a scheme to pay bribes to secure Indian power supply contracts. The Adani Group has denied the allegations.

The Indian ports-to-power conglomerate has also received public backing from Abu Dhabi's International Holding IHC.AD, which maintained its outlook on investments in the group.

"Our partnership with the Adani Group reflects our confidence in their contributions to the green energy and sustainability sectors," IHC said on Wednesday, adding that it "continues to evaluate relevant information and developments".

IHC, which is one of Adani's key foreign investors, boosted its stake in the group's Adani Enterprises ADEL.NS flagship to more than 5% last year after selling down investments in Adani Green Energy ADNA.NS and Adani Energy Solutions ADAI.NS.

Shares in Adani Green, the company at the centre of the bribery allegations, rose by 10% on Thursday, hitting the cap on gains in a single session for a second consecutive day, with Adani Energy also up the maximum 10%.

The total losses in the value of Adani Group's 10 listed companies have narrowed to $14.5 billion from about $34 billion, the low reached on Tuesday after the U.S. indictments.

FALLOUT

Global investors say worries of a wider spillover from the Adani allegations will hurt sentiment in India, but not the long-term outlook, as they wager one of the world's best-performing markets will get back on track next year.

Investors expect a stronger spotlight on governance and disclosure, and perhaps some volatility, but say the affair has not challenged the reasons they are in India in the first place - for exposure to a growing economy and a huge consumer market.

Indian Prime Minister Narendra Modi's government has not commented on the allegations against the Adani Group and has blocked opposition party demands for a debate on them.

Both houses of India's parliament were suspended temporarily within minutes of opening on Thursday as opposition lawmakers disrupted proceedings for the third day over the issue.

Many opposition parties accuse Modi and his Bharatiya Janata Party (BJP) of favouring Gautam Adani and blocking investigations against him, charges which both have denied.

The Adani Group, which is among India's biggest business empires, has been under scrutiny since January 2023 short seller Hindenburg Research accused it of stock manipulation, which the group has denied, and questioned its high debt levels.

Adani Green said on Wednesday that Adani had been charged by U.S. Securities and Exchange Commission (SEC) for alleged violations of securities law and faced potential fines but had not been charged under the U.S. Foreign Corrupt Practices Act.

The civil action launched by the SEC runs in parallel to U.S. federal prosecutors' indictment against Adani and others.

Repercussions from the indictment have mounted for the Adani Group over the past week, with credit ratings agencies cutting the outlook for some of the listed companies' bonds.

French oil major TotalEnergies TTEF.PA, said on Monday it would not make any more investments in the Adani Group until there was clarity over the allegations and consequences. Total has a 20% stake in Adani Green.

Kenya has scrapped a $2 billion procurement project that was to give Adani control of the country's main airport and it shelved a 30-year, $736-million public-private partnership, signed by Adani Energy with its energy ministry in October.

Closer to home, Sri Lanka said it would investigate all Adani-related projects in the island nation, while Bangladesh is investigating power generation contracts signed under the previous prime minister, one of which was with Adani Power.

(Reporting by Hadeel Al Sayegh in Dubai, Shilpa Jamkhandikar in Mumbai and Nigam Prusty in New Delhi; Writing by Scott Murdoch, Chris Thomas; Editing by Alexander Smith)

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Nov 27 (Reuters) - Bank of India Ltd BOI.NS:

• TO ACCEPT BIDS OF 50 BILLION RUPEES FOR ISSUE OF LONG TERM BONDS

Source text: [ID:]

Further company coverage: BOI.NS

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Nov 11 (Reuters) - Bank of India Ltd BOI.NS:

• SEPT-QUARTER NET PROFIT 23.74 BILLION RUPEES

• SEPT-QUARTER GROSS NPA 4.41%

• SEPT-QUARTER NET NPA 0.94%

• SEPT-QUARTER INTEREST EARNED 173.55 BILLION RUPEES

• SEPT-QUARTER PROVISIONS & CONTINGENCIES 10.43 BILLION RUPEES

• SEPT-QUARTER PROVISIONS FOR NPA 14.27 BILLION RUPEES

Source text: [ID:]

Further company coverage: BOI.NS

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Oct 31 (Reuters) - Bank of India Ltd BOI.NS:

• BANK OF INDIA REVISES ONE-YEAR MCLR TO 9.00% FROM 8.95%, EFFECTIVE NOV 1

Source text: ID:nBSElQmKl

Further company coverage: BOI.NS

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Oct 7 (Reuters) - Bank of India Ltd BOI.NS:

• BANK OF INDIA - GLOBAL DEPOSITS GREW BY 10.15% Y-O-Y AS OF 30TH SEP 2024

• BANK OF INDIA - GROSS ADVANCES (GLOBAL) UP 14.41% Y/Y AS OF SEPT END

Source text for Eikon: ID:nNSE6Lqqzm

Further company coverage: BOI.NS

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Sept 26 (Reuters) - Bank of India Ltd BOI.NS:

• BANK OF INDIA - ISSUED, ALLOTTED BASEL III COMPLIANT TIER II BONDS AMOUNTING TO 25 BILLION RUPEES

Source text for Eikon: ID:nNSE5LBV25

Further company coverage: BOI.NS

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MUMBAI, Sept 25 (Reuters) - Bank of India BOI.NS has accepted bids worth 25 billion rupees ($299.35 million) for Basel III compliant Tier-II bonds maturing in 10 years, three bankers said on Wednesday.

The state-run lender has set a coupon of 7.49%. It had invited bids from bankers and investors earlier in the day.

In July, it had raised 50 billion rupees selling 10-year infrastructure bonds at 7.54% coupon.


Here is the list of deals reported so far on Sept. 25:

* Size includes base plus greenshoe for some issues

($1 = 83.5150 Indian rupees)

(Reporting by Bhakti Tambe)

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MUMBAI, Sept 23 (Reuters) - Bank of India BOI.NS plans to raise up to 25 billion rupees ($299.4 million), including a greenshoe option of 15 billion rupees, through issue of tier-II bonds maturing in 10 years, three merchant bankers said on Monday.

The bank has invited bids from bankers and investors for the issue on Wednesday, they said

Here is the list of deals reported so far on Sept. 23:

*Size includes base plus greenshoe for some issues

($1 = 83.5080 Indian rupees)

(Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Varun H K)

(([email protected]))

MUMBAI, Sept 20 (Reuters) - Bank of India BOI.NS plans to raise up to 25 billion rupees ($299.04 million), through sale of Basel III compliant Tier-II bonds maturing in 10 years, three bankers said on Friday.

The state-run lender is likely to invite bids from bankers and investors on Tuesday, they said.

In July, it had raised 50 billion rupees selling 10-year infrastructure bonds at 7.54% coupon.

Here is the list of deals reported so far on Sept. 20:

* Size includes base plus greenshoe for some issues

($1 = 83.6000 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Sherry Jacob-Phillips)

(([email protected]))

July 19 (Reuters) - Bank of India Ltd BOI.NS:

• ISSUED, ALLOTTED LONG TERM BONDS (INFRASTRUCTURE) WORTH UP TO 50 BILLION RUPEES

Further company coverage: BOI.NS

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MUMBAI, July 18 (Reuters) - Bank of India BOI.NS has accepted bids aggregating to 50 billion rupees ($598.01 million)for infrastructure bonds maturing in 10 years, three bankers said on Thursday.

The state-run lender had invited coupon and commitment bids from bankers and investors earlier in the day.

Here is the list of deals reported so far on July 18:

*Size includes base plus greenshoe for some issues

($1 = 83.6100 Indian rupees)

(Reporting by Bhakti Tambe and Dharamraj Dhutia)

(([email protected]))

MUMBAI, July 15 (Reuters) - Bank of India BOI.NS plans to raise up to 50 billion rupees ($598.64 million), including a greenshoe option of 30 billion rupees, through infrastructure bonds maturing in 10 years, three bankers said on Monday.

It has invited coupon and commitment bids for the issue on Thursday, they said.

Here is the list of deals reported so far on July 15:

*Size includes base plus greenshoe for some issues

($1 = 83.5230 Indian rupees)

(Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Sohini Goswami)

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By Dharamraj Dhutia and Bhakti Tambe

MUMBAI, July 12 (Reuters) - Indian banks are set to raise around 400 billion rupees ($4.79 billion) through infrastructure bonds in July and August, potentially setting a record for the second consecutive year, according to five merchant bankers on Friday.

If successful, funds raised via these bonds in the first five months of the current fiscal year started in April will surpass the 544 billion rupees raised in fiscal year 2023/24.

Infrastructure bond issues had picked up last year, and the trend will continue as the gap between credit demand and deposit growth continues, said Shameek Ray, head of debt capital markets at ICICI Securities Primary Dealership.

Government spending on infrastructure and a pick-up in investment in sectors like steel, roads and renewable energy is generating demand for funds, said Arnab Choudhury, head of debt capital markets at SBI Capital Markets.

Infrastructure bonds are issued to finance long-term development projects.

Canara Bank CNBK.NS and Bank of Baroda BOB.NS are likely to raise 100 billion rupees each, while Bank of India BOI.NS is expected to raise 50 billion rupees, three of the bankers said.

HDFC Bank HDBK.NS, India's biggest private bank, is also in early talks to raise around 100-150 billion rupees, they added.

None of the banks responded to Reuters' request for confirmation.

So far this fiscal year, State Bank of India SBI.NS has raised 200 billion rupees, and ICICI Bank ICBK.NS has raised 30 billion rupees through these bonds.

Investor appetite for long-duration infrastructure bonds could spur more issuances in the coming months, Choudhury said.

According to the interim budget announced in February, the federal government plans to spend over 11 trillion rupees this fiscal year on long-term infrastructure projects to stimulate growth and create jobs.

"These bonds are seeing strong demand from insurance companies and provident funds, as it allows them diversification and meets their need for increasing portfolio duration," Ray said.

The strong demand has also helped reduce the spread sought by investors over government securities, he added.

($1 = 83.5250 Indian rupees)

(Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Varun H K)

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July 8 (Reuters) - Bank of India Ltd BOI.NS:

• PROVISIONAL DEPOSITS (GLOBAL) UP 9.09% Y/Y AS OF JUNE END

• GLOBAL GROSS ADVANCES AS OF JUNE-END UP 15.78% Y/Y

Source text for Eikon: ID:nNSEYv3h0

Further company coverage: BOI.NS

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By Bhakti Tambe and Dharamraj Dhutia

MUMBAI, July 1 (Reuters) - Bank of India BOI.NS is expected to raise funds via 10-year infrastructure bonds later this month, following similar sales by other large banks last week, two merchant bankers said on Monday.

This will be Bank of India's first ever infrastructure bond issuance. The state-run lender may look to raise as much as 50 billion rupees ($599.30 million) through the issue, the bankers said.

The lender is in talks with investors and may invite bids for the issue by middle of this month.

The bank did not respond to a Reuters' email seeking comment.

State Bank of India on Wednesday raised 100 billion rupees through 15-year infrastructure bonds at 7.36% coupon.

On Friday, ICICI Bank raised 30 billion rupees through 10-year infra bonds at 7.53% coupon.

Bank of India had last tapped the debt market in September 2023, when it raised 20 billion rupees through Basel III-compliant Tier II bonds maturing in 10 years at 7.88% coupon.

($1 = 83.4300 Indian rupees)

(Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Mrigank Dhaniwala)

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May 10 (Reuters) - Bank of India Ltd BOI.NS:

• Q4 NET PROFIT UP 7% Y/Y AT 14.39 BILLION RUPEES

• Q4 NET INTEREST INCOME UP 7% Y/Y AT 59.37 BILLION RUPEES

• Q4 NIM (DOMESTIC) 3.30% VERSUS 3.59% YEAR AGO

• GNPA RATIO UP 233 BPS FROM 7.31% IN MAR'23 TO 4.98% IN MAR'24

Source text for Eikon: ID:nNSE4KStw3

Further company coverage: BOI.NS

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May 6 (Reuters) - Bank of India Ltd BOI.NS:

• TO CONSIDER RAISING OF CAPITAL THROUGH ISSUE OF BASEL III COMPLIANT AT-1 AND TIER 2 BONDS

Source text for Eikon: ID:nBSE8bYrVh

Further company coverage: BOI.NS

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April 5 (Reuters) - Bank of India Ltd BOI.NS:

• GROSS ADVANCES (GLOBAL) AS OF MARCH END UP 13.56% Y/Y

• TOTAL DEPOSITS (GLOBAL) UP 10.20% Y/Y AS OF MARCH 31

Source text for Eikon: ID:nBSEgnhzY

Further company coverage: BOI.NS

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March 28 (Reuters) - Bank of India Ltd BOI.NS:

• BANK OF INDIA LTD - GETS TAX ORDER WITH PENALTY OF 5.64 BILLION RUPEES

Source text for Eikon: ID:nBSEbGjs4L

Further company coverage: BOI.NS

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March 27 (Reuters) - Bank of India Ltd BOI.NS:

• BANK OF INDIA LTD - APPROVED ISSUE OF LONG TERM INFRA BONDS UP TO 100 BILLION RUPEES DURING FY 2024-25

• BANK OF INDIA LTD - APPROVED ISSUE OF LONG TERM INFRA BONDS TO TUNE OF 100 BILLION RUPEES DURING FY 2024-25.

Source text for Eikon: ID:nNSE3ZJM2S

Further company coverage: BOI.NS

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March 5 (Reuters) - Bank of India Ltd BOI.NS:

• INVESTED 603.5 MILLION RUPEES IN NATIONAL ASSET RECONSTRUCTION CO

• INVESTED IN NATIONAL ASSET RECONSTRUCTION CO UNDER PREFERENTIAL SHARE ISSUANCE

• BANK'S EQUITY HOLDINGS IN NARCL WILL REMAIN SAME AT 9%

Source text for Eikon: ID:nNSE8zzBLt

Further company coverage: BOI.NS

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Feb 29 (Reuters) - Bank of India Ltd BOI.NS:

• RAISES 1 YEAR MCLR TO 8.85% FROM 8.8%

• CHANGE IN 1-YEAR MCLR EFFECTIVE MARCH 1

Source text for Eikon: ID:nNSE5gw31M

Further company coverage: BOI.NS

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Bank of India Ltd BOI.NS:

• BANK OF INDIA LTD - NIM (DOMESTIC) AT 3.21% IN Q3FY24

Source text for Eikon: ID:nBSEc1mxLC

Further company coverage: BOI.NS

** Shares of Bank of India BOI.NS up 2%

** Stock hit intraday high of 3% earlier in the session

** State-owned lender says provisional global total deposits as of Dec. 31 up 8.66% Y/Y; global gross advances up 11.49% Y/Y

** BOI's intraday high best since Dec. 11, when shares rose more than 4% on its 45 bln rupees Qualified Institutional Placement (QIP) issue being oversubscribed by 4.11 times

** Stock trading above its 50-, 100-, and 200-day moving averages since Dec 2023

** About 7 mln shares traded as of 9:45 a.m. IST, less than a quarter of 30-day avg of 29.3 mln shares

** Stock gained about 28% in 2023, posting a third straight year of gains vs a 32% rise in Nifty public sector banks index .NIFTYPSU

(Reporting by Dimpal Gulwani in Bengaluru)

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By Siddhi Nayak and Dharamraj Dhutia

MUMBAI, Jan 5 (Reuters) - Diminishing lure for perpetual bonds is likely to prompt Indian state-run banks switch to the equity market for raising funds in coming months, five banking sources told Reuters this week.

Indian banks, including top lender State Bank of India, have raised around 87 billion rupees ($1.05 billion) through perpetual bonds so far this fiscal, just about a quarter of fiscal 2023, with most struggling to raise even the targeted amount at auctions.

"With deposit rates inching higher, banks will have to pay a higher coupon on their debt securities, especially with mutual funds staying away from investing in perpetual debt," a senior official at a large state-run bank said.

Market regulator Securities Exchange Board of India had in March 2021 said that additional Tier 1 bonds would be considered to have a deemed maturity of 100 years, starting April 2023.

"This move has literally ended mutual fund investments in such papers, making fundraising more difficult," a trader with a private bank said.

Demand for these bonds fell further last year, after Credit Suisse wrote off around $17 billion of its additional Tier 1 debt amid its rescue merger with UBS.

"There is a possibility that banks may tap the equity route more for fundraising as valuations will improve further, while getting large quantum with AT-I bonds has become difficult," another banker said.

The sources asked to remain anonymous as they were not authorised to speak to the media.

Last month, state-run lenders Bank of India BOI.NS and Indian Bank INBA.NS raised 45 billion rupees and 40 billion rupees, respectively, via qualified institutional placement (QIP) of shares.

A QIP enables fundraising by offering equity shares to qualified buyers without a public offering.

Union Bank of India UNBK.NS had raised 50 billion rupees through a QIP in August.

Last week, Punjab National Bank PNBK.NS approved raising aggregate 75 billion rupees via equity.

The Nifty PSU Bank index .NIFTYPSU rallied 32.30% in 2023, outperforming the bank index .NSEBANK and financial services index .NIFTYFIN.

"State-run banks have cleaned up their balance sheets well and their valuations are still at a discount," said Vinod Nair, head of research at Geojit Financial Services.

($1 = 83.1650 Indian rupees)

(Reporting by Siddhi Nayak and Dharamraj Dhutia; Editing by Swati Bhat and Varun H K)

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