Bank of India Reports Robust 11.8% Growth in Global Business, Reaching ₹15.62 Lakh Crore
Bank of India has shown strong financial performance with an 11.8% year-on-year growth in global business to ₹15,61,888.00 crore. Global deposits increased by 10.08% to ₹8,53,301.00 crore, while global gross advances rose by 13.94% to ₹7,08,587.00 crore. Domestically, deposits grew by 8.53% to ₹7,30,097.00 crore, and gross advances climbed 14.62% to ₹5,96,794.00 crore. The bank's consolidated net profit increased by 32.2% to ₹2,252.00 crore. Gross non-performing assets improved to 2.92%, down 170 basis points year-on-year.

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Bank of India, one of India's leading public sector banks, has demonstrated strong financial performance, reporting an 11.8% year-on-year growth in global business to ₹15,61,888.00 crore. This growth reflects the bank's resilience and strategic initiatives in expanding its operations both domestically and internationally.
Key Highlights
- Global business reached ₹15,61,888.00 crore, up 11.8% year-on-year
- Global deposits increased by 10.08% to ₹8,53,301.00 crore
- Global gross advances rose by 13.94% to ₹7,08,587.00 crore
- Domestic deposits grew by 8.53% to ₹7,30,097.00 crore
- Domestic gross advances climbed 14.62% to ₹5,96,794.00 crore
Deposit and Advance Growth
The bank's growth strategy has yielded positive results across various segments. Global deposits saw a significant increase of 10.08% to ₹8,53,301.00 crore, while global gross advances experienced a robust growth of 13.94%, reaching ₹7,08,587.00 crore.
In the domestic market, Bank of India's performance was equally impressive. Domestic deposits grew by 8.53% to ₹7,30,097.00 crore, with retail term deposits showing a notable 14.15% growth. This indicates increased customer trust and the bank's ability to attract retail savings. Domestic gross advances also showed strong momentum, climbing 14.62% to ₹5,96,794.00 crore, suggesting increased lending activities across various sectors.
Financial Performance
The bank's financial performance has been consistently strong. In a recent quarter, Bank of India reported a 32.2% increase in consolidated net profit, reaching ₹2,252.00 crore. This significant growth was primarily driven by expansion in retail, MSME, and overseas segments, showcasing the bank's diversified growth strategy.
Asset Quality
Bank of India has made substantial progress in improving its asset quality. Gross non-performing assets (NPAs) stood at 2.92%, showing a significant improvement of 170 basis points year-on-year. This reduction in NPAs reflects the bank's effective risk management strategies and improved recovery mechanisms.
Market Response
The market has responded positively to Bank of India's performance. As of the latest trading session, Bank of India shares closed at ₹125.90, up 0.32%, indicating investor confidence in the bank's growth trajectory and financial health.
Conclusion
Bank of India's robust performance across various business segments, coupled with improved asset quality, positions it well for sustained growth. The bank's ability to expand its global business while maintaining strong domestic growth reflects its strategic focus and operational efficiency. As the bank continues to leverage its strengths in retail banking and overseas operations, it is well-poised to capitalize on the growing opportunities in India's banking sector.
Note: All financial figures are in Indian Rupees (₹) and 1 crore = 10 million.
Historical Stock Returns for State Bank of India
1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
---|---|---|---|---|---|
+0.78% | +0.38% | +8.07% | +17.02% | +13.42% | +356.18% |