Domestic Deposits increased by 8.61 percent at Rs 5.99 lakh crore and advances increased by 9.80 percent at Rs 4.53 lakh crore in the September quarter.
Bank of India shares were up nearly 2 percent at Rs 100.77 in the early trade on November 6 after the state-owned lender over the weekend reported a robust set of numbers for the September quarter of the current financial year.
Bank of India posted a 52 percent rise in its net profit at Rs 1,458.43 crore in the second quarter. Its net interest income (NII) rose 13 percent on-year to Rs 5,740 crore.
The asset quality of the state-owned lender improved sharply with the gross non-performing assets (NPA) ratio of 5.84 percent compared to 8.51 percent in a similar period of the previous year.
The net NPA ratio fell to 1.54 percent as on September 30, 2023, as against 1.92 percent in the year-ago period and 1.65 percent in the previous quarter.
Net interest margins were up by 4 bps in reporting quarter to 3.08 percent
Global Business increased by 9.25 percent at Rs 12,46,879 crore in September 2023 against Rs 11,41,356 crore in September 2022.
Domestic Deposits increased by 8.61 percent at Rs 5.99 lakh crore and advances increased by 9.80 percent at Rs 4.53 lakh crore in the quarter ended September 2023.