Bank of India Q4 net profit rises 7% to ₹1,439 crore

Bank of India Ltd. (BIL) reported fourth quarter net profit grew 7% year-on-year (YoY) to ₹1,439 crore.

Operating profit was lower at ₹3,557 crore as against ₹4,184 crore in the year earlier period. Q4 Net Interest Income (NII) rose 7% to ₹5,937 crore.

BIL’s FY24 net profit rose 57% to ₹6,318 crore. Operating profit improved 5.05% to ₹14,069 crore.

FY24 NII rose 14% to ₹23,053 crore.

Global business

BIL’s global business increased 11.65% from ₹11,85,438 crore in FY23 to ₹13,23,515 crore in FY24.

Global deposits increased 10.21% from ₹6,69,586 crorein FY23 to ₹7,37,920 crore in FY24.

Global advances increased 13.52% from ₹5,15,852 crore in FY23 to ₹5,85,595 crore in FY24.

Gross NPA slid 23% from ₹37,686 cr in FY23 to ₹29,183 crore in FY24.

Net NPA declined by 15% from ₹8,054 crore in FY23 to ₹6,845 crore in FY24.