Bank of India Q1FY25 Net Profit increased by 10% YoY to Rs.1,703 Cr

Bengaluru, 05 August 2024: Bank of India announced its results for Q1FY25 Net Profit for the quarter improved by 10% YoY and stood at Rs.1,703 Cr for Q1FY25 against Rs.1,551 Cr in Q1FY24. Operating Profit stood at Rs.3,677 Cr for Q1FY25 against Rs.3,752 Cr in Q1FY24

On Asset quality front, Net NPA declined by 30% YoY from Rs.8,118 Cr in Jun’23 to Rs.5,702 Cr in Jun’24. Global Business increased by 12.34% YoY from Rs.12,14,808 Cr in Jun’23 to Rs.13,64,660 Cr in Jun’24.

Net Interest Income (NII) increased by 6% YoY and stood at Rs.6,275 Cr for Q1FY25 against Rs.5,915 Cr for Q1FY24. Bank’s total Capital Adequacy Ratio (CRAR) improved by 58 bps and stood at 16.18% as on 30.06.24 against 15.60% as on 30.06.23. RAM Advances increased by 18.78% YoY to Rs.2,84,646 Cr, constituting to 56.01% of Advances in Jun’24.

Retail Credit grew by 20.46% YoY to Rs.1,15,183 Cr in Jun’24. Agriculture Credit grew by 22.18% YoY. MSME Credit grew by 13.06% YoY. Domestic CASA went up by 5.51% YoY from Rs.2,60,615 Cr in Jun’23 to Rs.2,74,973 Cr in Jun’24 and CASA ratio stood at 42.68%.

Bank has opened 3.78 Lakh new Pradhan Mantri Jan Dhan Yojana accounts during Q1-FY’2

As on 30th Jun’24, the Bank has 5155 number of Domestic branches.