BoB profit slips to ₹4,809 cr despite better asset quality

THE country's second-largest public sector lender Bank of India on Friday reported an 8.2% year-on-year drop in net income at ₹4,809 crore, despite improved asset quality and the resultant sharp 47% drop in provisions, along with stable net interest margin in the September quarter.

- ENS ECONOMIC BUREAU @ Mumbai

The city-based lender said slip in net profit is primarily due to a 32% plunge in non-interest or fee income, which fell to ₹3,515 crore from ₹5,166 crore a year ago. This was primarily due to a sharper 36% YoY cut in treasury income