Bank Of India Results

NIMs guidance of 2.9 per cent by March 2025

Bank of India (BoI) on Monday reported a 63 per cent jump in net profit to Rs 2,374 crore for the second quarter ended on September 30, 2024, on higher non-interest income. The public sector bank had a net profit of Rs 1,458 crore in the quarter ended in September 2023. Total income increased to Rs 19,872 crore in the July-September quarter of current fiscal, from Rs 16,659 crore in the corresponding quarter of previous fiscal. Net interest income (NII) increased by 4 per cent YoY to Rs 5,986 crore for Q2FY25 against Rs 5,740 crore in the year ago period. Non-interest income jumped 49 per cent YoY to Rs 2,518 crore during the quarter under review, against Rs 1,688 crore in the corresponding quarter of the previous fiscal. Net non performing assets (NPA) declined by 29 per cent YoY from Rs 7,978 crore in September 2023 to Rs 5,649 crore in September 2024. Bank of India shares closed at Rs 112.25 , up 0.63 per cent over previous close on BSE.

State-owned Bank of India (BoI) on Friday posted a 62 per cent jump in net profit to Rs 1,870 crore in the December quarter on account of decline in bad loans. The Mumbai-headquartered bank had earned a net profit of Rs 1,151 crore in the year-ago period. The lenders' total income increased to Rs 16,411 crore during the third quarter of the ongoing fiscal against Rs 14,160 crore a year ago, BoI said in a regulatory filing. The interest income of the bank rose to Rs 15,218 crore as against Rs 12,728 crore in the third quarter of the previous year. Gross Non-Performing Assets (NPAs) of the bank declined to 5.35 per cent of the gross loans by the end of December 2023 from 7.66 per cent a year ago. Similarly, net NPAs, or bad loans, came down to 1.41 per cent from 1.61 per cent at the end of the third quarter. Capital Adequacy Ratio of the bank improved to 16.06 per cent as against 15.60 per cent at the end of December 2022. During the quarter ended December 31, 2023, the bank issue

The non-interest income of the bank increased by 27 per cent YoY to Rs 1,462 crore in Q1FY24 against Rs 1,152 crore for Q1FY23

BOI's capital adequacy ratio stood at 16.28 per cent with the Common Equity Tier of 13.6 per cent at the end of March

Earnings, asset quality profile improve for public sector lender

Fall in non-interest income, rise in bad loan provisions drag down company's net

Its net interest income, the interest earnings minus expense, fell 14.32 per cent in the reporting quarter to Rs 3,523 crore in Q2FY22

The total income during the period under review increased to Rs 11,941.52 crore, from Rs 11,526.95 crore in the year-ago period

The other income comprising treasury revenues, fees and commissions rose 30% to Rs 1,610 cr

Provisions for non-performing assets fell to Rs 4,484 cr from Rs 5,442 cr a year earlier