Bank of India Q2 net profit jumps 41%

 

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.

Yash Ved
Yash Ved is a Senior Correspondent at NewsBarons and comes with a decade of experience across leading online and offline publications. A keen observer of the stock index movement, Yash also likes covering Real Estate and the BFSI sector. A financial management and Journalism student, Yash believes learning as a continuous journey and enjoys following the IT and the Pharmaceutical industry and has penned many articles on the subjects.
yash@newsbarons.com