Bank of India (BoI) showcased a strong performance in the third quarter of FY25, with its standalone net profit rising 34.62% year-on-year (YoY) to ₹2,516.69 crore, compared to ₹1,869.51 crore in Q3 FY24. The bank’s total income witnessed a significant jump of 21.61% YoY, reaching ₹19,956.90 crore during the quarter. Profit before tax (PBT) also increased substantially by 35.8% YoY to ₹3,398.87 crore, underscoring the bank’s robust financial growth.
Operating profit for the quarter stood at ₹3,702.57 crore, marking a 23.26% growth compared to ₹3,003.94 crore in the corresponding quarter of the previous year. The net interest income (NII) rose by 11% YoY to ₹6,070 crore, as against ₹5,463 crore in Q3 FY24. However, the bank’s global net interest margin (NIM) slightly dipped to 2.80% in Q3 FY25, compared to 2.85% in the same quarter last year.
The bank’s global business expanded by 13.62% YoY to ₹14,46,295 crore as of December 2024, demonstrating steady growth. Domestic deposits rose 13.27% YoY to ₹6,78,625 crore as of 31st December 2024, while domestic CASA (Current Account Savings Account) climbed by 6.07% YoY to ₹2,77,190 crore. The CASA ratio stood at a healthy 41.05% for the quarter. Global advances also showed strong momentum, increasing 15.30% YoY to ₹6,51,507 crore, with domestic advances up by 15% YoY at ₹5,46,269 crore.
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The bank’s asset quality improved notably during the quarter. Gross Non-Performing Assets (Gross NPA) declined to ₹24,048.48 crore as of 31st December 2024, compared to ₹30,237.15 crore a year ago and ₹27,455.33 crore in the preceding quarter. The gross NPA ratio improved by 166 basis points to 3.69%, down from 5.35% in December 2023. Similarly, the net NPA ratio improved by 156 basis points, standing at 0.85% as of 31st Bank of India’s capital adequacy ratio (CRAR) stood at 16.00% as of December 2024, slightly lower than 16.06% recorded a year earlier. The CET-1 ratio, however, remained strong at 12.96%.
As of 31st December 2024, the Government of India held a 73.38% stake in Bank of India, a leading public sector bank known for its consistent performance and expanding market presence.
