Public sector Another bank released its financial results. Bank of India (BOI) said in the information to the stock market that their net profit increased by 82 per cent to Rs 2626 crore in the fourth quarter of FY 2024-25. However, the bank’s net interest income was 2 percent to Rs 6063 crore in the quarter under review, but the other income increased by 96 percent to Rs 3428 crore. During this period, the recovery from accounts dumped in the butt account increased by 195 percent to Rs 1193 crore.
10.65 percent increase in bank’s total deposits
The bank’s net interest margin (NIM) decreased to 2.61 percent during this period, which was 2.92 percent in the same period a year ago. During the quarter under review, the total deposits of the bank increased by 10.65 percent and the lower -cost current and savings account remained to 40.28 percent. The bank’s managing director and Chief Executive Officer Rajneesh Karnataka said that the bank has been a target of 12-13 percent loan hike and 11-12 percent deposits in the current financial year (2025-26). He said that currently the total corporate loan of the bank is Rs 60,000 crore.
Government bank shares closed with a good lead on Friday
By the end of FY 2024-25, the total capital adequacy ratio of the bank was 17.77 percent while the major buffer level was 14.84 percent. Let us tell you that on Friday, the stock of Bank of India closed at Rs 110.20 with a gain of 2.27 percent (Rs 2.45) on BSE. Let us tell you that the bank’s shares are still far below their 52 weeks high. Bank of India shares have 52 weeks high of Rs 144.40, while its 52 week is Rs 90.00. According to BSE data, the current market cap of Bank of India is Rs 50,170.40 crore.
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