Bank of India

Bank of India is an India-based bank. The Bank’s segments include Treasury Operations, Wholesale Banking and Retail Banking. The Treasury operations segment includes the entire investment portfolio, which is dealing in government and other securities, money market operations and foreign exchange operations.

Revenue Mix Q1 FY25

• Retail Banking: 35%
• Wholesale banking: 37%
• Treasury: 27%
• Others: 1%

Shareholding Pattern

-PUBLIC GROUP

-PROMOTER GROUP

Financial Summary

Synopsis of Financials

• Operating Profit for Q3FY25 at ₹3,703 Cr, a YoY growth of 23%.
• Net Profit for Q3FY25 at ₹2,517 Cr, YoY growth of 35%.
• Global NIM at 2.80% for Q3FY25 and 2.90% for 9M Dec’24.
• Interest Income for Q3FY25 at ₹18,211 Cr, YoY growth of 20%.
• Non-Interest Income for Q3FY25 at ₹1,746 Cr, YoY growth of 46%.
• Improvement in asset quality with Gross NPA ratio at 3.69% (improved by 166 bps YoY) and Net NPA ratio at 0.85% (improved by 56 bps YoY).
• Fresh slippages reduced significantly to ₹1,105 Cr in Q3FY25 from ₹2,546 Cr in Q2FY25.

Final Outlook

Despite solid loan growth (~16% y-o-y), core operational performance was poor, with subdued NII due to greater-than-expected NIM compression and higher opex growth (driven by employee retiral provisions). Core PPoP, which includes treasury gains, decreased 7% year over year. However, decreased tax expenses and increased other revenue (mostly from treasury gains and recovery from written-off accounts) resulted in a notable beat in earnings, with a return on assets (RoA) of about 0.9%. Corporate and agri-loans were the main cause of the greater slippages, which were 1.7% annualized compared to 1.3% q-o-q and 1.3% y-o-y. As a result, the core credit cost increased to 97 basis points from 85 basis points each quarter and 54 basis points annually.