Bank of India Q2 net down 9%

State-run Bank of India reported a 9 per cent decline in its profit after tax at Rs 960 crore in the September 2022 quarter as against Rs 1,051 crore in the year ago period.

The bank’s total provision increased to Rs 1,912 crore from Rs 894 crore in the year-ago quarter. Provisions for bad and doubtful loans also jumped to Rs 664 crore from Rs 241 crore.

Domestic net interest margin stood at 3.49 per cent in the second quarter from 2.65 per cent.

While gross non-performing assets (GNPAs) ratio was at 8.51 per cent, net NPA stood at 1.92 per cent.

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