Mumbai: BOB recorded a 168 percent rise in net profit to Rs 4,775 crore from Rs 1,779 crore in the corresponding quarter last year. Annually, the bank recorded a profit of Rs 14,110 crore, up by 94 percent from Rs 7,272 crore.Net interest income (NII), the difference between interest earned and spent, rose 34 percent to Rs 11,525 crore from Rs 8,612 crore YoY. The net interest margin (NIM) of the lender stood at 3.31 percent compared to 3.03 percent last year. The bank’s total deposits increased to Rs 10.47 lakh crore and from Rs 9.27 lakh crore YoY, growing by 13 percent.Net advances grew from Rs 7.95 lakh crore to Rs 6.84 lakh crore YoY, growing by 16.3 percent. BOB’s gross non-performing assets (NPA) declined by 32 percent to Rs 36,764 crore from Rs 54,059 crore on a YoY basis. The GNPA ratio declined to 3.79 percent for the fourth quarter of the fiscal year 2022-23 from 6.61 percent last year. The net NPA ratio declined to 0.89 percent from 1.72 percent last year.
