Home / Companies / Results / Bank of India Q2 net up 98% to Rs 526 cr on higher net interest income

Bank of India Q2 net up 98% to Rs 526 cr on higher net interest income

Gets requests for loan recasts of over Rs 5,000 cr

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The lender said it would work to compensate margin pressures by increase in loan volume. A BOI branch is seen in this representational image.

Abhijit Lele Mumbai

3 min read Last Updated : Nov 07 2020 | 12:53 AM IST

Government-owned Bank of India posted a 97.7 per cent growth in net profit at Rs 526 crore for the second quarter ended September 2020 (Q2FY21) on an increase in net interest income (NII) and an uptick in non-interest income.

Its profit after tax stood at Rs 266 crore in Q2FY20. The net profit for Q1FY21 was Rs 844 crore.

The bank’s stock was trading 3.26 per cent higher at Rs 41.26 per share on the BSE.

The NII was up 6.55 per cent to 4,113 crore in Q2FY21, from Rs 3,860 crore in Q2FY20 and Rs 3,481 crore in Q1FY21.

Topics : Bank of India Q2 results

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