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Bank of India Q3 net profit grows 90%; management aims for double-digit loan growth in FY23

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Bank of India Q3 net profit grows 90%; management aims for double-digit loan growth in FY23

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Bank of India reported a net profit growth of 90 percent at Rs 1027.4 crore in quarter ended December 2021. The bank has reported net profit of Rs 540.7 crore in same quarter last year. Bank's Q3FY22 net interest income (NII) declined by 8.9 percent at Rs 3408 crore against Rs 3740 crore in Q3FY21.

Bank of India reported a net profit growth of 90 percent at Rs 1027.4 crore in quarter ended December 2021. The bank has reported net profit of Rs 540.7 crore in same quarter last year.
Bank's Q3FY22 net interest income (NII) declined by 8.9 percent at Rs 3408 crore against Rs 3740 crore in Q3FY21.
The net NPA ratio for Q3 stood at 2.66 percent versus 2.79 percent on a quarter on quarter basis.
In an interview to CNBC-TV18, AK Das, MD & CEO of Bank of India said the bank aims to deliver 8 percent loan growth in Q4FY22 and double digit loan growth in FY23.
He said the bank also plans to bring the slippage ratio to sub 0.3 percent.
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