Bank of India(BOI) Q3 Net profit up 8%

State-run Bank of India on Wednesday (January 21) reported a 7.5% year-on-year increase in net profit for the third quarter, with profit rising to ₹2,705 crore compared with ₹2,516.7 crore in the corresponding quarter last year.

Net interest income for the quarter grew 6.5% year-on-year to ₹6,462.6 crore, up from ₹6,070.3 crore in the same period a year ago. Gross non-performing assets declined to 2.26% from 2.54% in the previous quarter, while net non-performing assets eased to 0.60% from 0.65% sequentially.

Bank of India’s global advances grew 13.63% year-on-year, with domestic advances rising 15.16% YoY. The bank’s total global business crossed the ₹16 lakh crore milestone. Overseas advances increased 5.70% YoY.

On the domestic front, retail advances grew 20.64% YoY, agriculture advances rose 16.69% YoY, MSME advances increased 15.77% YoY, and corporate advances grew 11.32% YoY. The proportion of retail, agriculture, and MSME (RAM) advances in total advances increased to 58.54%.

Deposits for the bank grew 11.64% YoY, with domestic deposits up 12.80% YoY. CASA deposits rose 4.48% YoY, resulting in a CASA ratio of 37.97% as of 31st December 2025.

On the profitability front, operating profit for 9M-FY26 rose 4% YoY to ₹12,023 crore, while Q3FY26 operating profit increased 13% YoY to ₹4,193 crore. Net profit for 9M-FY26 was ₹7,511 crore, up 14% YoY.

Net interest income (NII) for 9M-FY26 stood at ₹18,442 crore. Non-interest income grew 20% YoY for 9M-FY26 to ₹6,665 crore, and 30% YoY for Q3FY26 to ₹2,279 crore. Net interest margin (NIM) for 9M-FY26 was 2.51% globally and 2.76% domestically, while Q3FY26 NIM improved to 2.57% globally and 2.80% domestically. Return on assets (ROA) and return on equity (ROE) for 9M-FY26 were 0.90% and 14.49%, respectively, rising to 0.96% and 15.34% in Q3FY26.

Asset quality improved, with gross NPA ratio at 2.26%, down 143 basis points YoY, and net NPA at 0.60%, improved by 25 bps YoY. The provision coverage ratio (PCR) increased 112 bps YoY to 93.60%.

Slippage ratio for 9M-FY26 improved 36 bps YoY to 0.64%, while Q3FY26 slippage ratio was 0.16%, up 3 bps YoY. Credit cost for 9M-FY26 improved 30 bps YoY to 0.42%, and for Q3FY26 improved 5 bps YoY to 0.34%. On the capital front, Bank of India’s capital adequacy ratio stood at 17.09% as of December 31, 2025.

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Bank of India(BOI) Promotes this General Manager as Chief General Manager

Bank of India (BoI) has announced a key leadership change with the elevation of Shri Shankar Sen to the position of Chief General Manager, effective January 1, 2026.

Shri Sen was previously serving as General Manager at the Field General Manager Office, Pune. With this promotion, he joins the bank’s top management team and will play a strategic role in strengthening operational and financial leadership across the institution.

Shri Shankar Sen is a highly experienced banking professional with over three decades of service across major public sector banks. He earlier served as Chief Financial Officer (CFO) of Bank of India from May 2020 to June 2023, where he played a crucial role in strengthening the bank’s financial position and governance framework.

He is a Chartered Accountant (FCA), holds an MBA from Swami Vivekananda Subharti University, and is a Certified Associate of the Indian Institute of Banking and Finance (CAIIB). His professional expertise spans credit management, risk, corporate and project finance, retail banking, international banking operations, finance, and accounting.

Over the years, Shri Sen has handled several key leadership assignments across corporate banking, project finance, international divisions, and large commercial branches, establishing a strong track record in strategic banking operations.

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Bank of India(BOI) Apprentice Recruitment 2025 Notification

Bank of India(BOI) Apprentice Recruitment 2025: Bank of India has released the official notification for Apprentice Recruitment 2025, inviting applications for 400 posts across various locations. Eligible candidates can apply online after checking the prescribed educational qualifications, age limit, and selection process mentioned in the notification. Interested applicants are advised to complete the application process within the given timeline through the official channel.

Bank of India Apprentice Recruitment 2025 Important Dates

• Notification Released: 23 December 2025
• Application Start Date: 25 December 2025
• Last Date to Apply: 10 January 2026 (11:59 PM)
• Last Date for Fee Payment: 10 January 2026
• Exam Date: To be released

Bank of India Apprentice Recruitment 2025 Age Limit Details

• Age Limit: 20 to 28 years
• Age Calculation Date: 01 December 2025
• Date of Birth Range: 02 December 1997 to 01 December 2005
• Age Relaxation: Applicable as per rules

Bank of India Apprentice Recruitment 2025 Notification PDF & Apply Online Form Link

• Download Notification PDF
• Click Here to Apply Online

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Bank of India(BOI) Q2 results: Net profit up 7.62%

Due to lower lending costs, public sector lender Bank of India (BOI) announced a 7.62% year-over-year increase in net profit to ₹2,555 crore for the July–September 2025 quarter (Q2FY26) on Friday. 

The shares of the Mumbai-based lender closed at ₹123.30 per share on the BSE, a 1.67 percent decrease. In Q2FY26, its net interest income (NII) decreased by 1.24 percent to ₹5,912 crore, from ₹5,986 crore in Q2FY25, the same quarter that ended in September 2024. 

 Net interest margin (NIM) decreased from 2.81 percent in Q2FY26 to 2.41 percent in Q2FY26, a 40 basis point year-over-year (Y-o-Y) decrease.

The managing director and CEO of BOI, R Karnatak, stated that a decrease in provisions for bad loans was the reason for the improvement in net earnings. After the deposit repricing is finished in the second half, the NII ought to start to get better. 

Customers have already received the repo rate reductions. In Q2FY26, the bank's non-interest income—which includes treasury, fees, commissions, etc.—dropped by 12% year over year to ₹2,220 crore. The profit from treasury operations, such as the sale and revaluation of investments, fell from ₹730 crore in Q2FY26 to ₹314 crore in Q2FY26, a 57% decline. 

 Following the results, Karnatak stated in a virtual media exchange that the bank did not experience much treasury income in the third quarter due to the current state of the market.

In Q2FY26, the credit costs, also known as provisions for non-performing assets (NPAs), dropped significantly to ₹472 crore from ₹1,427 crore in the previous year. In Q2FY26, advances increased 14.03 percent year over year to ₹7.09 trillion. 

 In the September quarter of FY26, advances to MSME, retail, and agricultural climbed 17.02 percent year over year to ₹3.47 trillion. According to Karnatak, the second half of the fiscal year is anticipated to see a strong credit offtake, including over the holiday season. A credit pipeline of ₹70,000 crore in corporate, retail, and agricultural loans has been approved. 

 At ₹8.53 trillion, total deposits grew 10.08 percent year over year. At the end of September 2025, the percentage of low-cost deposits, or current accounts and savings accounts (CASA), fell from 41% to 40%.

Gross non-performing assets (NPAs) decreased from 4.41 percent in September 2024 to 2.54 percent in September 2025, indicating an improvement in the bank's asset quality. Additionally, net non-performing assets (NPAs) decreased from 0.94 percent in September 2024 to 0.65 percent in September 2025.

 In September 2025, the provision coverage ratio (PCR), which takes into account written-off accounts, increased from 92.22 percent to 93.39 percent. At the end of September 2025, the bank's capital adequacy was 16.69%, with Common Equity Tier-1 capital at 14.49%.

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ED has arrested a Bank of India(BoI) officer in a fraud case for Rs 16.10 crore

In accordance with the Prevention of Money Laundering Act, 2002 (PMLA), Hitesh Kumar Singla, an officer of Bank of India, was taken into custody by the Directorate of Enforcement (ED), Mumbai, from Ahmedabad Junction Railway Station. Bank of India had previously suspended the officer. 

 After his appearance before the Greater Bombay Special PMLA Court, he was given seven days of ED detention. Under Sections 13(1)(a) and 13(2) of the Prevention of Corruption Act, 1988, Section 409 of the Indian Penal Code, and Section 316(5) of the BNS, the CBI had brought a case against Singla and Others.

As the case involved money laundering, it was transferred to ED and ED started its investigation.

Investigations revealed that between May 2023 and July 2025, Singla fraudulently closed multiple accounts—including Term Deposits (TDs), Public Provident Fund (PPF), Senior Citizen Savings Scheme (SCSS), Savings Bank (SB), and Current Accounts (CA)—without authorization. The funds were then diverted to his personal SBI savings accounts.

According to the ED, Singla deliberately targeted 127 account holders, mostly vulnerable customers such as senior citizens, minors, deceased persons, and dormant account holders, to avoid detection.

The diverted funds were layered and transferred in small, concealed transactions, causing a total loss of ₹16.10 crore to Bank of India and its customers, while severely damaging the bank’s reputation and public trust.

Singla had been evading the bank and not reporting since the crime was discovered. At Ahmedabad Junction, ED apprehended him based on technical surveillance and intelligence inputs. He was detained despite his repeated attempts to avoid detection by switching carriages and seats on Train No. 19320 Mahamana Express (Ujjain–Veraval).

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CBI Investigates ₹121 Crore Fraud in Gujarat, Complaint lodged by BOI

Three sites in Ahmedabad and Gandhinagar have been searched by the CBI in relation to a ₹121 crore bank scam involving the city-based company Anil Bioplus. Incriminating documents were seized as a result of the Wednesday raids. 

The CBI has charged the firm and its directors, Amol Shripal Sheth, Darshan Mehta, and Nalin Thakur, in response to a complaint filed by the Bank of India. 

 Based on a complaint received from Bank of India against M/s. Anil Bioplus Ltd., a private company based in Ahmedabad, its three directors—Amol Shripal Sheth, a full-time director; Darshan Mehta, a full-time director; and Nalin Thakur, a director—as well as unidentified public employees and other unidentified individuals, the Central Bureau of Investigation (CBI) opened a case on September 8, 2025.

The lawsuit alleges that the directors of a private company situated in Ahmedabad conspired with unidentified Bank of India personnel with the malicious purpose to cause the bank to suffer an unjustified loss of Rs. 121.60 crores.

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Big Fraud of Rs.1,396 Crore Fraud in Bank of India(BOI) and Other Banks

On August 30, 2025, the Shimla-based Directorate of Enforcement (ED) conducted search operations in Bhubaneswar, Odisha, as part of a large-scale bank fraud and money laundering case involving M/s Indian Technomac Company Ltd (M/s ITCOL). In addition to the business establishments of M/s Anmol Mines Pvt. Ltd. (AMPL) and M/s Anmol Resources Pvt. Ltd. (ARPL), the searches were carried out at the residence of Shakti Ranjan Dash, Managing Director of these companies. The action was carried out in accordance with the Prevention of Money Laundering Act (PMLA), 2002.

The Himachal Pradesh Police CID filed a formal complaint (FIR) alleging that M/s ITCOL's directors conspired with corporate officials and chartered accountants to embezzle bank loans approved by a group of banks. According to ED findings, M/s ITCOL submitted fabricated project reports and displayed fictitious sales to dummy/shell firms in order to fraudulently obtain loans from a consortium managed by the Bank of India between 2009 and 2013. The loans were diverted elsewhere rather than being used for approved reasons. The estimated value of the suspected scam is ₹1,396 crore.

The ED had already seized assets totaling ₹310 crore in April 2025, of which ₹289 crore had been returned to the group of banks headed by Bank of India. According to the most recent inquiry, M/s ITCOL and its shell companies transferred ₹59.80 crore into M/s Anmol Mines Pvt. Ltd.'s (AMPL) bank accounts. The managing director of AMPL, Shakti Ranjan Dash, has been charged by the ED with willfully aiding Rakesh Kumar Sharma, the founder of M/s ITCOL, in money laundering by directing cash into mining operations in Odisha.

Investigators found that Shakti Ranjan Dash subsequently integrated the diverted money into AMPL’s accounts and recorded it as legitimate business income, thereby attempting to project “proceeds of crime” as clean money.

During the Bhubaneswar raids, the ED seized many luxury vehicles, cash,jewellery and property. Two lockers belonging to Dash were also frozen.

The ED confirmed that the seized assets belong to Shakti Ranjan Dash and his associated companies. Officials emphasized that the investigation is ongoing and further action will follow as evidence is scrutinized.

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BOI Classifies Loan Account of Reliance Communications as ‘Fraud’

 

Reliance Communications Limited, its promoter and former director, Shri Anil Dhirajlal Ambani, and its former director, Smt. Manjari Ashok Kacker, have had their loan accounts classified as "fraud" by Bank of India.

The Bank of India has also decided to label the loan accounts of RTL (the company's subsidiary), Smt. Grace Thomas (the former director of RTL and current director of the company), and a few other individuals (named in the RTL Letter) as "fraud." This decision was communicated in a letter to Reliance Telecom Limited (RTL), a subsidiary of the company.

Bank of India approved a 700 crore rupee term loan. As of 07/08/2025, there were 724.78 crores that were still owed. The loan was approved to cover a short-term discrepancy brought on by investments made in the purchase of 3G spectrum and associated capital expenditures. There was no guarantee when the loan was approved.

On June 30, 2017, the borrower's account became non-performing, with Rs 724.78 crores still owed. Although the Bank has been pursuing the borrowers and guarantors to collect the debt, they have not fulfilled their obligations.

Through M/s BDO India LLP, the bank carried out a forensic audit after the account became non-performing. The appropriate authority was presented with the results of the forensic audit. The following observations, findings, and conclusions of the forensic audit have led the competent authority to conclude that there are suspected fraudulent connotations after reviewing the audit:

In accordance with the review letter, Bank of India paid RCOM INR 350.00 Crores in a letter dated October 3, 2016, for "ongoing Capital exp, operational expenditure, repayment of existing liabilities other than related party / shareholder loans."

Loan Diversion: Fixed deposits totaled INR 350.00 crores.

A loan of Rs. 350 Cr was raised by the BOI on March 27, 2015, to cover spectrum fees. MF held the loan amount until April 7, 2015.A loan of Rs. 310.00 Cr was raised by SCB on March 30, 2015. FD was made on April 7, 2015, for a total of Rs. 632.50 Cr (BOI Rs. 350 Cr + SCB Rs. 310 Cr). RCOM obtained an equivalent loan of Rs. 632.50 Cr from BOI in order to pay the DOT Government of India for the Spectrum fees in relation to the aforementioned FD.

FD was liquidated on June 11, 2015, and the Rs. 632.50 Cr BOl loan was paid back. The payment of operational expenses was made with the full amount of the BOI loan.

The sanction letter stated that using the loan funds to invest in fixed deposits was prohibited; therefore, this is regarded as non-compliance with sanction terms of the loan.

Borrower requested that the company is undergoing Corporate Insolvency Resolution Process (CIRP) and thus the account should not be classified as Fraud.

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