Bank of India Q3FY25 reporting an increase in Net Profit by 34.62% YoY to Rs.2,517 Cr

KEY HIGHLIGHTS (Q3FY25)

Global Business increased by 13.62% YoY. Global Deposits increased by 12.29% YoY.
Global Advances increased by 15.30% YoY. Advances (Dom.) increased by 15.00% YoY.
RAM Advances grew by 18.96% YoY and it constitutes 57.14% of Advances.
Retail Credit grew by 21.22% YoY.
Agriculture Credit grew by 18.46% YoY.
MSME Credit grew by 16.36% YoY.
CASA deposits increased by 6.07% YoY and CASA ratio at 41.05%.
Net Profit increased by 34.62% YoY to Rs.2,517 Cr.
Operating Profit increased by 23.26% YoY to Rs.3,703 Cr.
Non-Interest Income increased by 46.37% YoY to Rs.1,746 Cr.
Gross NPA ratio down by 166 bps YoY to 3.69%.
Net NPA ratio down by 56 bps YoY to 0.85%.
Provision Coverage Ratio (PCR) at 92.48%.
CRAR at 16.00%, with CET-1 ratio at 12.96%.

Profitability:

Q3-FY25:

Net Profit for the quarter improved by 35% YoY and stood at Rs.2,517 Cr for Q3FY25 against Rs.1,870 Cr in Q3FY24. On a sequential basis, Net Profit improved by 6% from Rs.2,374 Cr in Q2FY25.
Operating Profit increased by 23% YoY and stood at Rs.3,703 Cr for Q3FY25 against Rs.3,004 Cr in Q3FY24 and Rs.4,147 Cr in Q2FY25.
Net Interest Income (NII) increased by 11% YoY and stood at Rs.6,070 Cr for Q3FY25 against Rs.5,463 Cr for Q3FY24 and Rs.5,986 Cr in Q2FY25.
Non-Interest Income increased by 46% YoY and stood at Rs.1,746 Cr for Q3FY25 against Rs.1,193 Cr in Q3FY24 and Rs.2,518 Cr in Q2FY25.
Operating Expenses stood at Rs.4,114 Cr for Q3FY25 against Rs.3,653 Cr in Q3FY24 and Rs.4,355 Cr in Q2FY25.

9Months ended FY25:

Net Profit increased by 35% YoY and stood at Rs.6,593 Cr for 9 month ended FY’25 against Rs.4,879 Cr in the corresponding period of last year.
Operating Profit improved by 10% YoY and stood at Rs.11,527 Cr for 9-month ended FY’25 against Rs.10,511 Cr in the corresponding period of last year.
Net Interest Income (NII) increased by 7% YoY and stood at Rs.18,331 Cr for 9-month ended FY’25 against Rs.17,117 Cr in the corresponding period of last year.
Non-Interest Income increased by 28% YoY and stood at Rs.5,566 Cr for 9- month ended FY’25 against Rs.4,344 Cr in the corresponding period of last year.
Operating Expenses stood at Rs.12,370 Cr in 9-month ended FY’25 against Rs.10,949 Cr in the corresponding period of last year.

Ratios (Q3-FY25):

NIM (Global) stood at 2.80% in Q3FY25 against 2.85% in Q3FY24 and 2.82% in Q2FY25.
Return on Assets (Global) improved by 14 bps YoY to 0.96% in Q3FY25 against 0.82% in Q3FY24. On a sequential basis it improved by 2 bps from 0.94% in Q2FY25.
return on Equity (RoE) improved by 157 bps at 16.53% in Q3FY25 against 14.96% in Q3FY’24.
Cost to Income ratio (Global) stood at 52.63% in Q3FY25 against 54.87% in Q3FY24 and 51.22% in Q2FY25.
Slippage ratio stood at 0.19% in Q3FY25 against 0.26% in Q3FY24.
Credit Cost stood at 0.39% in Q3FY25 against 0.46% in Q3FY24.
Yield on Advances (Global) improved by 18 bps YoY to 8.55% in Q3FY25 against 8.37% in Q3FY24 and 8.45% in Q2FY25.
Cost of Deposits (Global) stood at 4.96% in Q3FY25 against 4.62% in Q3FY24 and 4.95% in Q2FY25.

Ratios (9Months ended-FY25):

NIM (Global) stood at 2.90% in 9M-FY25 against 2.98% in 9M-FY24.
Return on Assets (RoA) improved by 15 bps and stood at 0.87% in 9M-FY25 against 0.72% in 9M-FY24.
Return on Equity (RoE) improved by 115 bps YoY to 14.90% in 9M-FY25, against 13.75% in 9M-FY24.
Cost to Income ratio (Global) stood at 51.76% in 9M-FY25 against 51.02% in 9M-FY24.
Credit Cost stood at 0.72% in 9M-FY25 against 0.54% in 9M-FY24.
Yield on Advances (Global) improved by 31 bps to 8.65% in 9M-FY25 against 8.34% in 9M-FY24.
Cost of Deposits (Global) stood at 4.91% in 9M-FY25 against 4.44% in 9M- FY24.

Business:

Global Business increased by 13.62% YoY from Rs.12,72,887 Cr in Dec’23 to Rs.14,46,295 Cr in Dec’24. (YTD Growth: 9.28%)
Global Deposits increased by 12.29% YoY from Rs. 7,07,827 Cr in Dec’23 to Rs. 7,94,788 Cr in Dec’24. (YTD Growth: 7.71%)
Global Advances increased by 15.30% YoY from Rs. 5,65,060 Cr in Dec’23 to Rs. 6,51,507 Cr in Dec’24. (YTD Growth: 11.26%)
Overseas Deposits increased by 6.87% YOY to Rs. 1,16,163 Cr and Overseas Advances increased by 16.87% YOY to Rs. 1,05,238 Cr in Dec’24.
Domestic Deposits increased by 13.27% YoY from Rs.5,99,137 Cr in Dec’23 to Rs.6,78,625 Cr in Dec’24. (YTD Growth: 7.77%)
Domestic CASA went up by 6.07% YoY from Rs.2,61,335 Cr in Dec’23 to Rs.2,77,190 Cr in Dec’24 and CASA ratio stood at 41.05%. (YTD Growth of CASA Deposits: 2.71%)
Domestic Advances increased by 15.00% YoY from Rs. 4,75,012 Cr in Dec’23 to Rs. 5,46,269 Cr in Dec’24. (YTD Growth: 10.94%)
RAM Advances increased by 18.96% YoY to Rs.3,12,132 Cr, constituting to 57.14% of Advances in Dec’24. (YTD Growth: 13.99%)
Retail Credit grew by 21.22% YoY to Rs.1,27,825 Cr in Dec’24. (YTD Growth: 14.66%)
Agriculture Credit grew by 18.46% YoY to Rs.95,173 Cr in Dec’24. (YTD Growth: 12.68%)
MSME Credit grew by 16.36% YoY to Rs.89,134 Cr in Dec’24. (YTD Growth: – 14.45%).

Asset Quality:

Gross NPA declined by 20.47% YoY from Rs.30,237 Cr in Dec’23 to Rs.24,048 Cr in Dec’24.
Net NPA declined by 29.07% YoY from Rs.7,627 Cr in Dec’23 to Rs.5,410 Cr in Dec’24.
GNPA ratio improved by 166 bps from 5.35% in Dec’23 to 3.69% in Dec’24.
Net NPA ratio improved by 56 bps from 1.41% in Dec’23 to 0.85% in Dec’24.
Provision Coverage Ratio (PCR) stood at 92.48% in Dec’24 against 89.95% in Dec’23.

Capital Adequacy:

As on 31.12.2024, Bank’s total Capital Adequacy Ratio (CRAR) was at 16.00% against 16.06% as on 31.12.2023.
CET-1 ratio stood at 12.96% as on 31.12.2024..

Priority Sector:

Priority Sector Advances increased by 16.63% YOY and achieved 45.27% of ANBC as on Dec’24. Agricultural advances achieved 21.19% of ANBC.
Advances to Small & Marginal Farmers achieved 11.76% of ANBC in Dec’24 against regulatory norm of 10%.
Advances to Weaker Sections achieved 14.11% of ANBC in Dec’24 against regulatory norm of 12%.

Financial Inclusion:

Bank has opened 2.23 Lakh new PMJDY accounts during Q3-FY’25 and 10.49 lakh new accounts during 9 Months ended FY’25.

Digital Banking:

Internet Banking users: Increased to 9.2 million in Dec’24 from 8.8 million in Dec’23.
Number of UPI users increased to 21.2 million in Dec’24 from 18.0 million in Dec’23.
Digital Transactions share in total transactions improved to 95% in Dec’24 from 94% in Dec’23.

Branch Network:

Social Media Presence: