Chandigarh, 28th January 2025: 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 the 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 of 31.12.2024, the Bank’s total Capital Adequacy Ratio (CRAR) was at 16.00% against 16.06% as of 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.