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Bank of India drops to one-year low; Q2 net interest margin contracts

By Reuters News

** Bank of India BOI.NS drops 5.6% to one-year low of 123.64 rupees

** Top pct loser among Nifty PSU Bank index .NIFTYPSU, which is down 0.7%

** BOI's Q2 net interest margin contracts to 2.47% from 2.52% a quarter ago, while net profit rises

** ICICI Securities says net interest income growth lags peers

** Adds that impact from transition to new expected credit loss framework may hit 14% of BOI's net worth, one of the steepest among peers

** More than 11.7 million shares traded so far, nearly twice 30-day average

** Stock rated "buy" on average by four brokerage firms, median PT at 157.5 rupees, LSEG-compiled data

** YTD, BOI down 13.4% vs NIFTYPSU index's 6.3% drop

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