Bank of India (BOI) has reported a robust performance for the second quarter of fiscal year 2026, with an 8% year-on-year increase in net profit and significant improvements in asset quality. The bank's strategic focus on growth and asset quality management has yielded positive results across key financial metrics.

Financial Performance Highlights

• Net profit rose to Rs. 2,555.00 crore in Q2 FY26, up 8% from Rs. 2,374.00 crore in Q2 FY25
• Half-year net profit increased by 18% to Rs. 4,800.00 crore
• Global business grew by 11.83% year-on-year to Rs. 15,62,000.00 crore
• Global advances increased by 14.03% to Rs. 7,09,000.00 crore

Asset Quality Improvements

Bank of India has made significant strides in improving its asset quality:

• Gross NPA ratio declined by 187 basis points to 2.54%
• Net NPA ratio improved to 0.85%
• Credit costs decreased substantially to 0.28% from 0.97% in the previous year
• Slippage ratio improved to 0.14% from 0.44%

Key Financial Metrics

Strategic Initiatives

The bank has launched several initiatives to enhance its service offerings and operational efficiency:

• Introduced BOI TradeEasy platform for MSME supply chain finance
• Waived minimum balance charges on savings accounts
• Focused on expanding the MSME and retail lending segments

Management Guidance

Bank of India's management has provided guidance for FY26:

• Global advances growth target: 12-13%
• Deposit growth target: 10-11%
• ROA target: approximately 0.90%

The bank's performance in Q2 FY26 demonstrates its resilience and strategic focus on sustainable growth. With improved asset quality and targeted growth initiatives, Bank of India appears well-positioned to capitalize on the ongoing economic recovery.

Investors and stakeholders will likely keep a close eye on the bank's ability to maintain this growth momentum while managing asset quality in the coming quarters. The management's guidance suggests confidence in the bank's trajectory, although external economic factors may continue to play a role in shaping the banking sector's overall performance.

Bank of India has announced the appointment of Shri Prabodh Parikh as Director representing shareholders through an unopposed election process. This development comes as part of the bank's corporate governance structure and shareholder representation.

Key Details of the Appointment

Election Process and Validation

The Nomination and Remuneration Committee of Bank of India's Board found Shri Parikh's candidature to be valid and deemed him 'Fit and Proper' for the role. As he was the sole candidate who offered his candidature for the vacancy, Shri Parikh is deemed to have been elected unopposed, in accordance with Regulation 66 of the Bank of India (Shares and Meetings) Regulations, 2007.

Impact on Upcoming Extraordinary General Meeting

Due to the unopposed election, the agenda relating to the Election of Shareholder Director will not be discussed at the scheduled Extraordinary General Meeting (EGM) on November 7, 2025. However, the EGM will proceed as planned to address other business matters as indicated in the Notice of the Meeting dated October 10, 2025.

Professional Background

Shri Parikh brings a wealth of experience to his new role:

• Joined State Bank of India (SBI) in 1985
• Retired as Deputy Managing Director from SBI in 2023
• Served on the boards of several joint ventures and subsidiaries, including:
  • Oman India Joint Investment Fund - Trustee Company Private Limited
  • Oman India Joint Investment Fund - Management Company Private Limited
  • SBI Infra Management Solutions Pvt. Ltd.
• Recently served on deputation at NaBFID as Executive Vice President - Officer on Special Duty

Regulatory Compliance

Bank of India has confirmed that Shri Parikh is not debarred from holding the office of Director by any orders from SEBI or other regulatory authorities. Additionally, he is not related to any existing Directors or Key Managerial Personnel of the Bank.

This appointment aligns with Bank of India's commitment to strong corporate governance and shareholder representation. Shri Parikh's extensive experience in banking, particularly in infrastructure and project financing, is expected to bring valuable insights to the bank's board.