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Bank of India Q2 net profit up 26pc at Rs. 786 crore

State-run Bank of India (BoI) reported 26.41 per cent growth in net profit at Rs. 786 crore for the second quarter ended September 30.

The bank had a net profit of Rs. 621.77 crore in the July-September quarter of 2013-14 fiscal.

Interest income of the bank rose to Rs. 11,093 crore during the quarter, up 20 per cent from Rs. 9,239 crore in the year-ago period, BoI said in a filing to the BSE.

Gross non-performing assets (NPAs) as a percentage of total advances stood at 3.54 per cent, against 2.93 per cent in the same quarter of 2013-14.

Net NPAs stood at 2.32 per cent at the end of September 2014.

The bank’s provisioning declined during the quarter to Rs. 953 crore from Rs. 1,232 crore in the year-ago period.

Total income of the bank increased to Rs. 12,099.45 crore in this quarter from Rs. 10,339.55 crore in the corresponding quarter of previous fiscal.

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