Bank of India Q3 profit surges 90% to ₹1,027 cr
Premium- Bank of India Q3 results: Operating profit of the lender during the reporting period stood at ₹2,096 cr as against ₹2,665 crore in Q3FY21.
Bank of India's standalone net profit jumped by 90% year-on-year, which went up from ₹541 crore in the third quarter of last year to ₹1,027 crore for Q3FY22.
Operating profit of the lender during the reporting period stood at ₹2,096 cr as against ₹2,665 crore in Q3FY21.
Net Interest Income (NII), the difference between income earned from interest and payed out, fell 8% to ₹3,408 crore for the third quarter as compared to ₹3,739 crore reported in Q3FY21.
Meanwhile, non-Interest Income came in at ₹1,835 crore for Q3FY22.
On Friday, Bank of India shares were trading lower by 2.48% at ₹57 apiece on NSE.
Other highlights of Bank of India's Q3 results
- NIM (Global) stood at 2.27% and NIM (Domestic) at 2.51% in Q3FY22.
- Return on Assets (RoA) stood at 0.51% in Q3FY22, which improved from 0.28% in Q3FY21.
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- Yield on Advances (Global) stood at 7.02% in Q3FY22 against 7.67% in Q3FY21.
- Cost of Deposits (Global) improved to 3.75% in Q3FY22 from 4.03% in Q3FY21.
- Slippage ratio stood at 0.47% and Credit Cost at 0.71%
- Gross NPA declined by 8.97% QoQ from ₹50,270 Cr in Sep’21 to ₹45,760 Cr in Dec’21.
- Net NPA stood at ₹10,708 Cr in Dec’21 against ₹10,576 Cr in Sep’21.
- GNPA ratio improved to 10.46% in Dec’21 from 12.00% in Sep’21.
- Net NPA ratio improved to 2.66% in Dec’21 from 2.79% in Sep’21.
- Provision Coverage Ratio (PCR) stood at 86.86% in Dec’21 against 87.81% in Sep’21
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