Bank of India reports Net Profit of Rs 1869.5 crore for Dec Quarter

Bank of India (BOI) recently disclosed its financial results for the quarter ending December 2023.

Increased Net Profit

In this period, BOI reported a net profit of Rs 1,869.5 crore, showing a significant increase of 62.4% compared to the same quarter in the previous financial year, where the profit was Rs 1,151 crore.

Improved Asset Quality

BOI’s gross non-performing asset (NPA) decreased from 7.66% in the year-ago period to 5.35%. Additionally, the net NPA improved from 1.61% to 1.41% during the same period, indicating better management of bad loans.