BackBank of India's June quarter profit rises over three-fold to ₹844 crore
Net interest income fell a marginal 0.12% to ₹3,481.14 crore for the quarter Other income, which includes core fee income, rose 42.9% year-on-year to ₹1,707.28 crore
PremiumMUMBAI: State-owned Bank of India (BoI) on Monday reported an over three-fold rise in its June quarter net profit to ₹843.60 crore, led by higher other income and lower provisions.
The lender had reported a net profit of ₹242.62 crore in the year-ago period.
Net interest income, or the difference between interest earned on loans and that paid on deposits, fell a marginal 0.12% to ₹3,481.14 crore for the quarter.
Other income, which includes core fee income, rose 42.9% year-on-year to ₹1707.28 crore during the quarter under review.
The lender made provisions worth ₹1,512.07 crore, down 20.9% on year.
Gross NPAs, as a percentage of gross advances, were at 13.91% compared with 16.50% as of June 2019 and 14.78% as of March 2020.
After provisions, net NPA ratio was at 3.58% against 3.88% during January-March and 5.79% in the year-ago quarter.
Shares of Bank of India today closed 2.8% higher at ₹48.45 apiece on the BSE, while the benchmark index Sensex fell 1.8% to end at 36,939.60.
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