Bank of India Q3 FY25 Net Profit Increases by 35% YoY to Rs. 2,517 Cr

Bank of India announced its results for the quarter Q3 FY25. Net Profit improved by 35% YoY and stood at Rs.2,517 Cr for Q3FY25 against Rs.1,870 Cr in Q3FY24. On a sequential basis, Net Profit improved by 6 % from Rs.2,374 Cr in Q2FY25.

On Asset quality front, Net NPA declined by 29.07% YoY from Rs.7,627 Cr in Dec’23  to Rs.5,410 Cr in Dec’24. Global Business increased by 13.62% YoY from Rs.12,72,887 Cr in Dec’23 to Rs.14,46,295 Cr in Dec’24 reporting a YTD growth of 9.28%.

Net Interest Income (NII) increased by 11% YoY and stood at Rs.6,070 Cr for Q3FY25 against Rs.5,463 Cr for Q3FY24 and Rs.5,986 Cr in Q2FY25. As on 31.12.2024, Bank's total Capital Adequacy Ratio (CRAR) was at 16.00% against 16.06% as on 31.12.2023.

Retail Credit grew by 21.22% YoY to Rs.1,27,825 Cr in Dec’24. (YTD Growth: 14.66%). Agriculture Credit grew by 18.46% YoY to Rs.95,173 Cr in Dec’24. MSME Credit grew by 16.36% YoY to Rs.89,134 Cr in Dec’24.

Priority Sector Advances increased by 16.63% YOY and achieved 45.27% of ANBC as on Dec’24. Agricultural advances achieved 21.19% of ANBC. Advances to Small & Marginal Farmers achieved 11.76% of ANBC in Dec’24 against regulatory norm of 10%. Advances to Weaker Sections achieved 14.11% of ANBC in Dec’24 against regulatory norm of 12%.

Bank has opened 2.23 Lakh new PMJDY accounts during Q3-FY’25 and 10.49 lakh new accounts during 9 Months ended FY’25.

As on 31st Dec’24, the Bank has 5202 number of Domestic branches.