Bank of India Q2 Results: Net profit jumps 63% to ₹2,373.7 crore, asset quality improves

Bank of India reported a 62.8% year-on-year increase in net profit for the second quarter ended September 30, 2024 on higher non-interest income. The profit during the period reached ₹2,373.7 crore, up from ₹1,458.4 crore in the same period last year.

The public sector bank's Net Interest Income (NII) grew by 4.3%, rising to ₹5,985.2 crore, compared to ₹5,739.5 crore in Q2 FY2023.

In terms of asset quality, the bank reported a decrease in both gross and net Non-Performing Assets (NPA), reflecting the bank's continued recovery and strengthening balance sheet amid a challenging economic environment.

Gross NPA stood at 4.41%, improving from 4.62% in the previous quarter, while Net NPA declined to 0.94% from 0.99% QoQ.

Also Watch | Rajneesh Karnatak, MD & CEO of Bank of India discusses Q2 FY25 figures in an interview with CNBC-TV18.

Bank of India shares closed at ₹112.25 , up 0.63 per cent over previous close on BSE.

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