Bank of India Appoints Prabodh Parikh as Shareholder Director in Unopposed Election

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

Aspect	Details
Appointee	Shri Prabodh Parikh
Position	Director representing shareholders
Age	62 years
Qualifications	M.Com, MBA, CAIIB
Banking Experience	37 years
Previous Role	Deputy Managing Director, State Bank of India (Retired in 2023)
Specialization	Infrastructure and Project financing
Appointment Effective From	November 29, 2025
Term Duration	Three years (until November 28, 2028)

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.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.23%	+3.87%	+18.52%	+19.48%	+37.16%	+261.41%

Bank of India (BOI) has announced its financial results for the second quarter of fiscal year 2026, showcasing improved profitability and asset quality. The state-owned lender reported a 7.62% year-on-year increase in net profit, along with significant improvements in key financial metrics.

Profit and Income

For Q2 FY26, BOI reported a net profit of ₹2,555.00 crore, up from ₹2,374.00 crore in the same quarter last year. The bank's total income for the quarter stood at ₹20,626.00 crore, compared to ₹19,872.00 crore in Q2 FY25, marking a 3.79% increase.

Asset Quality Improvement

The bank's asset quality showed notable improvement:

Gross Non-Performing Assets (GNPA) ratio decreased to 2.54% as of September 30, 2025, down from 4.41% a year ago.
Net Non-Performing Assets (NNPA) ratio improved to 0.65%, compared to 0.94% in the previous year.
Provision Coverage Ratio (PCR) strengthened to 93.39%, up from 92.22% in Q2 FY25.

Business Growth

BOI reported strong growth in its loan book:

Global advances grew by 14.03% year-on-year to ₹7,09,145.00 crore.
Domestic advances increased by 14.73% to ₹5,97,350.00 crore.
Retail advances showed robust growth of 19.96% year-on-year.

The bank's deposit base also expanded:

Global deposits increased by 10.08% to ₹8,53,301.00 crore.
Domestic deposits grew by 8.53% to ₹7,30,098.00 crore.

Key Financial Ratios

Ratio	Value
Net Interest Margin (NIM) - Global	2.41%
Net Interest Margin (NIM) - Domestic	2.66%
Return on Assets (ROA)	0.91%
Capital Adequacy Ratio (CAR)	16.69%

Digital Banking Initiatives

BOI continued to focus on digital banking, with the share of alternate channels in total transactions increasing to approximately 96% in Q2 FY26. The bank added over 7 lakh customers to its UPI platform during the quarter, bringing the total UPI customer base to 235 lakh+.

Conclusion

Bank of India's Q2 FY26 results demonstrate resilience in a challenging economic environment, with improvements across key financial parameters. The significant reduction in NPAs and growth in advances suggest effective management of asset quality and a strong focus on business expansion. As the bank continues to navigate the evolving financial landscape, its digital initiatives and robust capital position are likely to play crucial roles in sustaining growth and profitability in the coming quarters.