Bank of India is examining whether it can sell stakes in some of its subsidiaries to meet capital requirements an overcome the debt crisis it is in. The bank’s ED N. Damodaran confirmed that the bank is proposing to sell stakes in some non-core subsidiaries and sell part of the stakes in some other subsidiaries. This will help the bank to record profit in the current fiscal, he added. The bank had NPAs of 13.22% at the end of March 2017, marginally higher than the level a year ago. Net NPAs, however, came down to 6.9% at the end of last fiscal, as against 7.79% a year earlier. The bank had reported a net loss of Rs 1558 crore for the year ended March 2017 compared to a net loss of Rs 6,089 crore at the end of March 216. The bank had earlier sold 18% stake in Star Union Dai-ichi Life Insurance Company to its Japanese partner for Rs 540 crore. It had also sold its 5% stake in TransUnion CIBIL.
