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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.
