Bank of India (BoI) has posted a strong performance in Q3 FY25, with net profit rising 35% year-on-year to ₹2,517 crore as against ₹1,870 crore in Q3 FY24. On a sequential basis, the bank’s net profit saw a 6% increase from ₹2,374 crore in Q2 FY25. Operating profit also saw a robust 23% rise year-on-year, reaching ₹3,703 crore, although it was lower than the ₹4,147 crore recorded in Q2 FY25.
BoI Q3 NIM jumps 11%
Net interest income (NII) for the quarter grew 11% year-on-year to ₹6,070 crore, as against ₹5,463 crore in Q3 FY24, and was marginally higher than the ₹5,986 crore of the previous quarter. NII grew 46% year-on-year to ₹1,746 crore, although it was lower than ₹2,518 crore in Q2 FY25.
Operating expenses for Q3 FY25 stood at ₹4,114 crore, higher than ₹3,653 crore in Q3 FY24, but lower sequentially from ₹4,355 crore in Q2 FY25.
For the nine months ended FY25, Bank of India reported a 35% rise in net profit to Rs 6,593 crore as against Rs 4,879 crore in the same period last year. Operating profit for the nine-month period grew by 10% to Rs 11,527 crore while NII grew by 7% to Rs 18,331 crore. Non-interest income also grew by 28% to Rs 5,566 crore.
Operating expenses of the bank for the nine months stood at Rs 12,370 crore, up from Rs 10,949 crore in the same period last year. Bank of India shows improvement in key metrics Bank of India showed consistent improvement in key financial ratios for Q3 FY25.
Net Interest Margin (NIM) of the Bank stood at 2.80%, marginally lower than 2.85% in Q3 FY24 but higher than 2.82% recorded in Q2 FY25. Return on Assets (RoA) improved by 14 basis points y-o-y to 0.96% as compared to 0.82% in Q3 FY24, with a marginal sequential increase of 2 bps from 0.94% in Q2 FY25.
Return on Equity (RoE) witnessed a significant increase of 157 bps, reaching 16.53% in Q3 FY25 as compared to 14.96% in the same period last year. Cost to income ratio improved to 52.63% in Q3 FY25 as against 54.87% in Q3 FY24 and 51.22% in Q2 FY25, reflecting improved operational efficiency.
The slippage ratio of the bank stood at 0.19%, lower than 0.26% in Q3 FY24, reflecting improved asset quality. Credit cost also improved, coming down to 0.39% from 0.46% in the same quarter last year. Yield on advances increased 18 basis points y-o-y to 8.55% as against 8.37% in Q3 FY24, while cost of deposits increased marginally to 4.96% from 4.62% in Q3 FY24.
For the nine months ended FY25, NIM stood at 2.90%, lower than 2.98% in the same period last year. However, RoA improved by 15 basis points y-o-y to 0.87%, and RoE increased by 115 basis points to 14.90%. Cost of credit for the nine months increased to 0.72% from 0.54% in the last year.
Yield on advances for the nine-month period increased by 31 bps to 8.65%, while cost of deposits increased to 4.91% from 4.44% in the 9-month FY24.
