Bank of India has shown a 80 percent increase in net profit during the period July-September with both interest and Non-interest incomes going up. The bank has registered a profit of Rs 7.63 billion as against Rs 4.25 billion last year. Also the total income has shown a rise from Rs 36.03 billion last year to Rs 46.12 billion. While the net interest income rose to Rs 13.63 billion against Rs 9.86 billion a year back, whereby improving the net interest margin from 3.04 percent a year back to 3.2 percent now.

The Chairman and Managing Director of the Bank T.S.Narayanasami stated, "Reasonable volume, protecting the spread and good NPA (non-performing assets) are all you need to show such a performance......High interest rates and assets quality cannot go together....Slippages in the system as a whole will go up as the slowdown sets in." Mr. Narayanasami also added that the advances book grew by 35 percent to Rs 1.29 trillion and 25-30 percent of the incremental credit demand came from government bodies and oil firms.

The bank has also made a provision of Rs 108.6 crore for the exposure to bonds of troubled Lehman Brothers in the second quarter. The price of the banks’ share has closed 6 % lower at Rs 270.3 compared to the previous close of Rs 288.3.