Bank of India March Quarter Profit Soars 142% To Rs 606 Crore

Bank of India on Tuesday reported a 142.31 per cent rise in standalone profit after tax at Rs 606 crore in the quarter ended March 2022

State-run Bank of India on Tuesday reported a 142.31 per cent rise in standalone profit after tax (PAT) at Rs 606 crore in the quarter ended March 2022 on higher net interest income (NII) and improvement in asset quality.

This compares with a PAT of Rs 250 crore in the same period of the preceding fiscal.

For the full year 2021-22, the lender reported a 57.60 per cent jump in net profit at Rs 3,405 crore from Rs 2,160 crore in FY21.

Speaking to reporters, the bank's Managing Director and CEO A K Das said, "Asset quality further improved with reduction in gross NPAs both amount wise and percentage wise."