Bank of India has announced the record date for annual interest payment on various bonds issued by the bank on a private placement basis. The announcement was made in compliance with Regulation 60(2) of SEBI (LODR) Regulations, 2015.

Record Date and Payment Details

The bank has set March 16, 2026 as the record date for determining bondholders eligible to receive annual interest payment. The interest payment is due on April 1, 2026, but will be paid on April 2, 2026, as April 1 is a bank holiday in Mumbai.

Bond Series and Interest Rates

The interest payment covers nine different bond series with varying coupon rates and values:

Bond Portfolio Composition

The bond portfolio includes three categories of instruments:

• Tier I Bonds: One series worth ₹1,500 crore with the highest coupon rate of 8.57%
• Tier II Bonds: Four series totaling ₹8,800 crore with coupon rates ranging from 7.14% to 7.88%
• Long Term Bond Infrastructure (LTB Infra): Four series totaling ₹22,690 crore with coupon rates between 7.23% and 7.54%

Regulatory Compliance

The announcement was made under reference number HO: IRC:SVM: 2025-26:429 dated February 26, 2026. The notification was sent to both the National Stock Exchange of India Ltd. and BSE Ltd. as part of the bank's compliance with SEBI listing regulations. The record date determination ensures proper identification of bondholders eligible for interest payment on the specified due date.

Bank of India has received positive rating action from Fitch Ratings, with the international credit rating agency affirming the bank's long-term issuer default rating at 'BBB-' while upgrading its viability rating to 'BB' from 'BB-'. The bank formally disclosed this development to stock exchanges through a regulatory filing under SEBI (LODR) Regulation 30.

Rating Action Details

Fitch Ratings affirmed the Long-Term Issuer Default Ratings (IDRs) of Bank of India and its wholly owned subsidiary, Bank of India (New Zealand) Limited, at 'BBB-' with a Stable Outlook. The agency upgraded the bank's Viability Rating to 'BB' from 'BB-' and affirmed the Government Support Rating at 'BBB-' and Short-Term IDR at 'F3'.

Key Performance Improvements

The viability rating upgrade reflects significant improvements across multiple financial metrics. The bank's impaired loan ratio fell by 100bp to 2.30% in 9MFY26, outperforming Fitch's 2.40% projection. Credit costs declined to 0.40% of loans in 9MFY26 from 1.00% in FY25, while specific loan-loss coverage remained steady at 73.90%.

Enhanced Risk Profile and Capitalisation

Fitch revised the bank's risk profile score to 'BB-' from 'B+', reflecting a more diversified loan mix and improved underwriting standards. The common equity Tier 1 ratio rose by about 50bp to 15.30% in 9MFY26, maintaining a substantial 400bp buffer above Fitch's 10% threshold for the 'BB' category.

The agency expects the operating profit/risk-weighted asset ratio to remain close to 2.50% through FY27, supported by better margins and tight cost controls. The loan/customer deposit ratio rose by about 200bp to approximately 89% in 9MFY26, remaining comparable with peer banks.

Government Support and Market Position

The 'BBB-' rating reflects Fitch's assessment of high probability of extraordinary state support, considering the government's 73% ownership stake and the bank's position as India's sixth-largest state-owned bank. The rating remains equalised with India's sovereign rating, with the Stable Outlook mirroring the sovereign outlook.

Fitch noted positive outlooks on most rating factor scores, reflecting potential for further improvements if the operating environment score is revised upwards. The agency recently revised the outlook on Indian banks' operating environment to positive from stable, citing reduced sector risks due to enhanced regulation and supervision by the Reserve Bank of India.