Bank of India's Q1 Profit Surges by 32%

The state-owned Bank of India (BOI) announced a significant 32% increase in its net profit, reaching Rs 2,252 crore for the first quarter of the financial year 2025-26. This marks a notable growth from the Rs 1,703 crore profit in the same quarter of the previous fiscal year.

With total income surging to Rs 20,518 crore from Rs 18,240 crore year-over-year, the bank's financial health appears robust. Although the interest earned rose to Rs 18,357 crore compared to Rs 16,938 crore previously, net interest income experienced a 3% decline, settling at Rs 6,068 crore.

BOI's asset quality saw improvements, with gross non-performing assets dropping to 2.92% of gross advances from 4.62%. Likewise, net NPAs reduced to 0.75%, easing the need for bad loan provisions to Rs 1,104 crore. The Provision Coverage Ratio climbed to 92.94%, while the Return on Assets enhanced to 0.82% compared to 0.7% a year prior, and the capital adequacy ratio improved to 17.39%.

(With inputs from agencies.)