Bank of India Q3 profit up 90% to ₹1,027 crore

The lender’s operating profit during the reporting period was 2,096 crore as against 2,665 crore in Q3FY21.

Net interest income (NII), the difference between interest income and payments fell by 8% 3,408 crore for the third quarter as compared to 3,739 crore reported in Q3FY21.

Meanwhile, non-interest income came in 1,835 crore for Q3FY22.

On Friday, Bank of India’s shares were trading with a fall of 2.48%. 57 each 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 Asset (ROA) was 0.51% in Q3FY22, which improved from 0.28% in Q3FY21.

Yield on Advances (Global) stood at 7.02% in Q3FY22 as against 7.67% in Q3FY21.

Cost of Deposits (Global) has improved to 3.75% in Q3FY22 from 4.03% in Q3FY21.

– Slippage ratio was 0.47% and credit cost stood at 0.71%

– Gross NPAs have declined by 8.97% qoq Sep’21 to . 50,270 crore in 45,760 crore in December’21.

– remained on net NPA 10,708 crore in December’21 as against 10,576 crore in September 21.

The GNPA ratio improved to 10.46% in December’21 from 12.00% in September’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 per cent in December’21 as compared to 87.81 per cent in September’21