Bank of India informed that its domestic deposits increased 12.34% to Rs 6,72,731 crore as on September 2024 compared with Rs 5,98,850 crore posted in September 2023.
The bank's domestic advances was at Rs 5,20,256 crore in Q2 FY25, up 14.94% year on year (YoY). Global business increased 12% to Rs 13,96,555 crore in Q2 FY25 as against Rs 12,46,879 crore posted in September 2023.The bank reported global deposit of Rs 7,75,174 crore during the second quarter of FY25, registering a growth of 10.15% YoY. The banks global gross advances increased 14.41% to Rs 6,21,381 crore in Q2 FY25 as against Rs 5,43,128 crore reported in September 2023 quarter.
Bank of India is an Indian state-owned commercial bank that provides various banking product and services to their wide range of customers in India and internationally. The company's personal banking products and services include deposit schemes, such as current accounts, savings accounts, term deposits, and recurring deposits; and loans that comprise housing loans, car loans, educational loans, personal loans, loans for pensioners, loans against shares and debentures, festival loans, and travel loans, as well as mobile banking and demat services, automated teller machine (ATM) services, gift cards and cheques, Internet banking, foreign inward remittance, safe deposit lockers, and foreign travel cards.
The banks standalone net profit jumped 9.8% to Rs 1,702.73 crore on 15.3% rise in total income to Rs 18,240.02 crore in Q1 FY25 over in Q1 FY24.
The scrip fell 3.03% to currently trade at Rs 105.55 on the BSE.
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