Bank of India (Boi) reported a 142 per cent year-on-year (y-o-y) jump in Q4 FY22 net profit to ₹606 crore from ₹250 crore in the same quarter a year ago on the back of healthy growth in net interest income (NII) and a sharp decline in loan loss provisions.

The public sector bank’s standalone net profit for FY22 was up 58 per cent y-o-y to ₹3,405 crore from ₹2,160 crore in FY21.

The board recommended a dividend of ₹2 per equity share (20 per cent of face value at ₹10 each, fully paid up) for the FY22.

In the reporting quarter, net interest income rose 36 per cent y-o-y to ₹3,986 crore (₹2,936 crore in the year ago quarter).

Total non-interest income, comprising profit from sale of investments, profit from exchange transactions, commission, exchange and brokerage, and other non-interest income, was down 13 per cent y-o-y to ₹1,587 crore (₹1,829 crore).

Loan loss provisions declined 63 per cent to ₹1,135 crore (₹3,089 crore).

BoI MD & CEO Atanu Kumar Das projected a 10-12 per cent y-o-y growth in advances in FY23.

He said the bank is eyeing recoveries of about ₹12,000 crore from stressed accounts, comprising about ₹4,500 crore via the Insolvency & Bankruptcy Code (IBC) route and about ₹2,500 crore (from six accounts) via transfer of assets to the National Asset Reconstruction Company Ltd.

BoI will raise ₹2,500 crore via qualified institutions placement or follow-on public offer in FY23, Das said.


Gross NPAs declined to 9.98 per cent of gross advances as at March-end 2022 against 10.46 per cent as at December-end 2021.

The net NPA position improved to 2.34 per cent of net advances as at March-end 2022 as against 2.66 per cent as at December-end 2021.

Fresh slippages during the reporting quarter were lower at Rs 1,502 crore against Rs 1,760 crore in the preceding quarter.


Global deposits (domestic and foreign) nudged up 0.12 per cent yoy to ₹6,27,896 crore. Global advances rose 11.35 per cent y-o-y to ₹4,57,014 crore.

Within domestic deposits, the proportion of low-cost current account and savings account deposits improved to 45.02 per cent as at March-end 2022 against 44.07 per cent as at December-end 2021.

Within domestic advances, which grew by 8.73 per cent yoy, agriculture advances were up 19.27 per cent; retail (18.54 per cent); MSME (9.52 per cent), and Government & Government Guaranteed Advances (5.34 per cent). Corporate & other advances, however, de-grew 0.14 per cent.