Bank of India Q2FY25 Net Profit increased by 62.76% YoY to Rs.2,374 Cr
Mumbai, 13th November 2024: Bank of India announced its results for Q2FY25 with Net Profit for the quarter improved by 63% YoY at Rs.2,374 Cr for Q2FY25 against Rs.1,458 Cr in Q2FY24
On Asset quality front, Net NPA declined by 29% YoY from Rs.7,978 Cr in Sep’23 to Rs.5,649 Cr in Sep’24. Provision Coverage Ratio (PCR) stood at 92.22% in Sep’24. Global Business increased by 12.05% YoY from Rs.12,46,879 Cr in Sep’23 to Rs.13,97,100 Cr in Sep’24.
Bank’s total Capital Adequacy Ratio (CRAR) improved by 100 bps and stood at 16.63% as on 30.09.24 against 15.63% as on 30.09.23. RAM Advances increased by 19.74% YoY to Rs.3,00,412 Cr, constituting to 57.70% of Advances in Sep’24.
Retail Credit grew by 21.61% YoY to Rs.1,21,517 Cr in Sep’24. Agriculture Credit grew by 21.46% YoY to Rs.93,798 Cr in Sep’24. MSME Credit grew by 15.42% YoY to Rs.85,097 Cr in Sep’24. Domestic CASA went up by 7.26% YoY from Rs.2,56,956 Cr in Sep’23 to Rs.2,75,618 Cr in Sep’24 and CASA ratio stood at 41.18%.
Bank has opened 5.77 Lakh new PMJDY accounts during Q2-FY’25 and 9.55 lakh new accounts during H1-FY25. Digital Transactions share in total transactions improved to 95% in Sep’24 from 92% in Sep’23
As on 30th Sep’24, the Bank has 5191 number of Domestic branches.