Net Interest Income (NII) increased by 29% to Rs 4,072 crore in Q1 FY23 from Rs 3,146 crore in Q1 FY22. Net Interest Margin (NIM) was 2.55% in Q1 FY23 as against 2.16% in Q1 FY22. Operating profit fell 21% YoY to Rs 2,183 crore in the first quarter.

Total provisions before tax declined by 20% to Rs 1,322 crore in Q1 FY23 from Rs 1,652 crore in Q1 FY22. However, provisions for bad & doubtful debts rose by 49% YoY to Rs 1,304 crore.

Profit before tax (PBT) in Q1 FY23 stood at Rs 861 crore, down by 22% from Rs 1,097 crore in Q1 FY22.

The bank's gross non-performing assets (NPAs) stood at Rs 44,415 crore as on 30 June 2022 as against Rs 45,605 crore as on 31 March 2022 and Rs 56,042 crore as on 30 June 2021.

The ratio of gross NPAs was 9.30% as on 30 June 2022 as against 13.51% as of 30 June 2021. The ratio of net NPAs was 2.21% as on 30 June 2022 as compared with 3.35% as on 30 June 2021.

Provision Coverage Ratio (PCR) stood at 87.96% as on 31 June 2022 as against 86.17% as on 31 June 2021.

While bank's deposits increased by 3% YoY to Rs 6,40,734 crore, advances rose by 19% YoY to Rs 4,42,703 crore as on 31 June 2022.

As on 30 June 2022, the bank's total capital adequacy ratio (CRAR) was at 15.61% while the CET-1 ratio stood at 12.86% as on 30 June 2022.

Bank of India is a public sector bank. The Government of India held 81.41% stake in the bank as on 31 March 2022.

The scrip advanced 2.85% to currently trade at Rs 50.50 on the BSE.