Bank of India on Friday announced its net profit has surged 90.02 per cent to Rs 1,027 crore in the third quarter of the current financial year when compared with the corresponding period of the previous year.
The bank's net profit during the third quarter of 2020-21 stood at Rs 541 crore.
Net Interest Income (NII) of the government-run lender declined to Rs 3,408 crore in the third quarter of 2021-22 from Rs 3,739 crore recorded in the corresponding quarter of 2020-21.
The bank's Non-Interest Income also declined to Rs 1,835 crore for the quarter ended December 31, 2021 from Rs 1,897 crore recorded in the corresponding period of the previous year.
Gross NPA declined by 8.97 per cent quarter-on-quarter from Rs 50,270 crore the second quarter of the current financial year to Rs 45,760 crore in the third quarter.
Net NPA rose marginally to Rs 10,708 crore in the quarter ended December 2021 from Rs 10,576 crore recorded in the quarter ended September 2021.
As on December 31, 2021, the bank's Capital Adequacy Ratio (CRAR) stood at 16.66 per cent against 17.05 per cent in September 2021 and 12.51 per cent in December 2020.
( With inputs from ANI )
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