Bank of India Q3 net profit surges 35% to ₹2,517 crore
The Hindu
Bank of India reports strong financial performance in Q3 2024 with significant growth in net profit and improved asset quality.
Bank of India for the third quarter ended December 31, 2024 reported 35% growth in net profit at ₹2,517 crore as compared with ₹1,870 crore in the year ago period.
During the quarter the bank’s Net Interest Income (NII) increased by 11% Year on Year (YoY) to ₹6,070 crore.
Net Interest Margin (NIM) was lower at 2.80% as against 2.85% in the same period last year.
Slippage ratio stood at 0.19% against 0.26% in the year ago period, the bank said in a filing.
During the quarter the. Ann’s Gross NPA declined by 20.47% YoY from ₹.30,237 crore in the year ago period to Rs.24,048 crore.
Net NPA declined by 29.07% YoY from ₹.7,627 crore in the third quarter last year to ₹5,410 crore.
GNPA ratio improved by 166 bps from 5.35% YoY to 3.69%. Net NPA ratio improved by 56 bps YoY from 1.41% to 0.85%.
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