State-owned Bank of India Ltd on Friday (January 3) reported a 13.63% year-on-year (YoY) increase in its global business for the third quarter, reaching ₹14.46 lakh crore as of December 31, 2024.
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Global deposits rose 12.29% YoY to ₹7.94 lakh crore, while global gross advances saw a 15.31% YoY increase, reaching ₹6.51 lakh crore.
On the domestic front, deposits grew by 13.27% YoY to ₹6.78 lakh crore. Domestic advances increased by 14.98% over the same period last fiscal, standing at ₹5.46 lakh crore.
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Bank of India reported a 63% jump in net profit to ₹2,374 crore for the second quarter ended on September 30, 2024, on higher non-interest income. The public sector bank had a net profit of ₹1,458 crore in the quarter ended in September 2023.
Total income increased to ₹19,872 crore in the July-September quarter of the current fiscal, from ₹16,659 crore in the corresponding quarter of the previous fiscal.
Net interest income (NII) increased by 4% YoY to ₹5,986 crore for Q2FY25 against ₹5,740 crore in the year-ago period. Non-interest income jumped 49% YoY to ₹2,518 crore during the quarter under review, against ₹1,688 crore in the corresponding quarter of the previous fiscal.
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Net non-performing assets (NPA) declined by 29% from ₹7,978 crore in September 2023 to ₹5,649 crore in September 2024.
Shares of Bank of India Ltd ended at ₹104.80, up by ₹1, or 0.96%, on the BSE.
(Edited by : Shoma Bhattacharjee)
