Bank of India (BOI) has announced the appointment of Shri Pramod Kumar Dwibedi as Executive Director, effective November 24, 2025. This strategic move brings over three decades of banking experience to the bank's executive board, potentially strengthening its leadership team.

Key Appointment Details

• Name: Shri Pramod Kumar Dwibedi
• Previous Position: Chief General Manager, Bank of India
• New Role: Executive Director
• Effective Date: November 24, 2025
• Tenure: Until superannuation on June 30, 2028, or until further orders

Professional Background

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

• Education: Postgraduate in Economics, MBA (Finance), and Certified Associate of Indian Institute of Bankers (CAIIB)
• Additional Certifications: IT and Cyber Security from IDRBT, Fundamentals of Risk Management from Institute of Risk Management, London
• Career Span: Over 30 years in banking
• Expertise: Wide-ranging experience across banking operations, corporate relationships, and MSME business development

Appointment Process

The appointment was made by the Central Government under the provisions of:

• The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970
• Nationalised Banks (Management and Miscellaneous Provisions) Scheme 1970 (amended on November 17, 2022)

Bank of India's Financial Position

As of March 2025, Bank of India's consolidated financial position shows:

The bank has shown consistent growth across key financial metrics, indicating a strong financial foundation as it welcomes its new Executive Director.

This appointment comes at a time when Bank of India is showing robust financial growth, with double-digit increases in total assets, equity, and investments. Shri Dwibedi's extensive experience, particularly in corporate and MSME sectors, aligns well with the bank's growth trajectory and could potentially contribute to further strengthening its market position.

Bank of India (BoI) has received a vote of confidence from credit rating agency ICRA, which has assigned an [ICRA]AA+ (Stable) rating to the bank's Basel III Tier II bonds program worth Rs 2,500 crore. This rating reflects the bank's strong financial position and its ongoing improvements in asset quality.

Key Factors Behind the Rating

ICRA's rating decision is based on several crucial factors:

1. Strong Capital Position: As of September 30, BoI's core equity capital (CET I) and Tier I capital stood at 13.89% and 14.49% respectively, excluding H1 profit. These figures indicate a robust capital base, well above regulatory requirements.

2. Improving Asset Quality: The bank has shown steady improvement in its asset quality metrics. Gross Non-Performing Assets (GNPA) and Net Non-Performing Assets (NNPA) have declined to 2.54% and 0.65% respectively as of September 30, down from 3.27% and 0.82% on March 31.

3. Government Support: The rating factors in BoI's majority government ownership (73.38% as of September 30) and the demonstrated track record of capital support from the Government of India.

4. Profitability: While BoI's profitability has been improving, with a Return on Assets (RoA) of 0.91% (annualized) in H1, it remains below the public sector bank average of 1.12%.

Financial Performance

Bank of India has shown resilience and growth in its financial performance:

*Figures in Rs crore

Challenges and Outlook

Despite the positive rating, ICRA has highlighted some challenges:

• The bank's profitability, while improving, remains below peer averages.
• The overall vulnerable book (special mention accounts and standard restructured book) continues to be high relative to core capital.
• Potential impact of global macroeconomic conditions on asset quality and profitability.

ICRA expects BoI to maintain its strong liquidity profile, given its large proportion of retail deposits and high portfolio of liquid investments.

Conclusion

The [ICRA]AA+ (Stable) rating for Bank of India's Basel III Tier II bonds program reflects the bank's strong financial foundation and improving asset quality. While challenges remain, particularly in terms of profitability compared to peers, the bank's government backing and improving metrics provide a stable outlook for investors.

Investors should note that Basel III Tier II bonds have equity-like loss-absorption features, which may result in higher loss severity compared to conventional debt instruments if the point of non-viability is triggered by the RBI.