Bank of India Q2 net profit rises 28 pc to Rs 3,308 cr

Mumbai, Oct 23 (PTI) State-owned lender Bank of India on Friday reported a 28.4 per cent jump in its consolidated net profit to Rs 3,308.82 crore for the second quarter of FY27, driven by sharp growth in both interest and non-interest income.

In the year-ago period, the net profit of the bank stood at Rs 2,576.69 crore.

On a standalone basis, net profit of the lender increased by 25.34 per cent to Rs 3,202.38 crore in Q2 FY27 from Rs 2,554.57 crore in the same quarter of the last year.

The core net interest income jumped 18.52 per cent to Rs 7,007 crore from Rs 5,912 crore a year ago on the back of healthy advances growth and slight expansion in the net interest margin.

Non-interest income surged 24.78 per cent to Rs 2,770 crore for Q2 FY27 against

Rs 2,220 crore in Q2 FY26, mainly due to sharp growth in profit from exchange transactions and recovery in written-off accounts.

According to the investor presentation, profit from exchange transactions zoomed 157 per cent year-on-year to Rs 411 crore in Q2 FY27 from Rs 160 crore a year earlier.

Further, recovery from written-off accounts increased by 190 per cent to Rs 978 crore in the September quarter compared to Rs 337 crore in the year-ago period.

NIM (Global) improved by 0.06 per cent year-on-year to 2.47 per cent in Q2 FY27 against 2.41 per cent a year ago.

Global deposits of the bank rose 21.59 per cent to Rs 10,37,530 crore from Rs 8,53,301 crore.

Overseas deposits increased by 11.52 per cent to Rs 1,37,401 crore in the reporting quarter.

Domestic deposits surged 23.29 per cent year-on-year to Rs 9,00,129 crore.

Share of the low-cost current and savings account deposits, or CASA ratio, stood at 34.16 per cent as of September 30.

Global advances increased by 20.58 per cent to Rs 8,55,071 crore in September 2026 from Rs 7,09,145 crore in September 2025.

Domestic Advances grew 17.84 per cent to Rs 7,03,911 crore in September 2026, from Rs 5,97,350 crore.

RAM Advances increased by 18.68 per cent to Rs 4,12,670 crore from Rs 3,47,726 crore in September 2025 and constitute 58.63 per cent of domestic gross advances.

Gross non-performing asset (NPA) ratio of the bank improved by 0.94 per cent year-on-year to 1.60 per cent in September 2026 from 2.54 per cent in September 2025.

Provision Coverage Ratio (PCR) stood at 94.45 per cent in September 2026, against 93.39 per cent in September 2025. PTI MSU AA BAL

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