Bank of India Q2 net profit jumps 41%

Bank of India Q2 net profit jumps 41%

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Bank of India posted Q2 net profit stood at Rs. 179 crore from Rs127 crore in Q2 2016.

The NIM improved to 2.15% for the quarter.

The Net interest income (NII) increased 7% to Rs2,908.24 crore versus Rs2,719.74 crore last year. Other income declined 15.1% to Rs1,706.38 crore from Rs2,010.63 crore in the same period last year.

Gross NPAs stood at Rs. 49,306.90 crore, While Gross Advances for the quarter was at Rs. 390,687 crore.

Net NPAs improved to 6.47% in September 2017. The gross NPA improved to 12.62% in September,2017.