Bank of India Surges with Q4 Profit Boost: Key Insights

State-owned Bank of India has reported an impressive 82% increase in its fourth-quarter net profit, amounting to Rs 2,626 crore. This surge is attributed to significant treasury gains and recoveries from previously written-off accounts.

The bank's core net interest income modestly grew by 2% to Rs 6,063 crore, but a remarkable 96% rise in other income, totaling Rs 3,428 crore, bolstered overall financial performance. Notable recoveries from written-off accounts soared by 195% to Rs 1,193 crore, while treasury gains increased by 87% to Rs 711 crore.

Despite a narrowed net interest margin (NIM) at 2.61%, down from last year's 2.92%, the lender observed a 13.74% growth in advances and a 10.65% rise in overall deposits. The bank's managing director, Rajneesh Karnatak, announced future targets, including a 12-13% loan growth in FY26. The bank remains vigilant in cybersecurity amidst geopolitical tensions, adhering to the latest advisories.

(With inputs from agencies.)