Bol profit up 7.6%; provisions fall, asset quality improves

BANK OFINDIA (BoI) on Friday reported a 7.6% rise in its net profit to ₹2,554 crore for the September quarter, aided by a sharp fall in provisions and an improvement in the asset quality.

- KSHIPRA PETKAR

Provisions for the quarter fell nearly 58% to ₹441 crore.

The net interest income declined 1% on year to ₹5,912 crore. The net interest margin moderated to 2.41% from 2.55% a quarter ago. "There is still some deposit repricing left. We expect the NIM to improve from Q4 onwards," Rajeesh Karnatak, managing director and CEO, said in the post-earnings call.