Exclusive: Rajneesh Karnatak, MD & CEO, Bank Of India Discusses Key Q2 Highlights

Bank of India has announced a significant 52 percent increase in its net profit, reaching Rs 1,458.43 crore during the second quarter of the current fiscal year. In the same period last year, this government-owned bank reported a net profit of Rs 960 crore. In the latest quarter, the bank's asset quality showed substantial improvement, with the gross non-performing assets (NPA) ratio dropping to 5.84 percent, compared to 8.51 percent during a similar period the previous year. The net NPA ratio also decreased to 1.54 percent as of September 30, 2023, down from 1.92 percent a year ago and 1.65 percent in the previous quarter. The gross NPA of the bank amounted to Rs 31,719 crore as of September 30, 2023, a decrease from Rs 34,582 crore as of June 30, 2023, and a notable reduction from Rs 42,014 crore as of September 30, 2022. Rajneesh Karnatak, the Managing Director and CEO of Bank of India, shares the key highlights from the second-quarter earnings in a discussion with Siddharth Zarabi, the Managing Editor of BTTV.