Bank of India reported a steady financial performance in the third quarter, supported by moderate profit growth and visible improvement in asset quality. The public sector lender posted a year-on-year increase in profitability, while key asset quality indicators showed sequential improvement on a quarter-on-quarter basis.
For the quarter under review, Bank of India’s net profit rose 7.5% to ₹2,705 crore, compared with ₹2,516.7 crore in the corresponding quarter of the previous year. The rise in profit was backed by growth in core earnings, reflecting stability in the bank’s operating performance.
Net Interest Income (NII) increased 6.5% year-on-year to ₹6,462.6 crore, up from ₹6,070.3 crore in the same quarter last year. The growth in NII indicates steady lending activity and sustained interest income during the quarter.
On the asset quality front, the bank reported an improvement on a sequential basis. Gross Non-Performing Assets (GNPA) declined to 2.26% from 2.54% in the previous quarter, reflecting better control over slippages. Net Non-Performing Assets (NNPA) also improved, easing to 0.60% compared with 0.65% quarter-on-quarter.