Higher Non-Interest Income and Strong NII Growth Drive Robust Quarterly Performance
Mumbai (Economy India): State-owned Bank of India (BOI) reported a strong financial performance for the first quarter of FY2026-27, with its consolidated net profit surging 80.51% year-on-year to ₹3,302.58 crore, supported by robust growth in non-interest income and steady improvement in core banking operations.
The bank also announced plans to mobilize USD 1.2 billion under the FCNR(B) deposit window, strengthening its foreign currency resource base.
Standalone Profit Rises 36%
On a standalone basis, Bank of India’s net profit increased 36.23% to ₹3,067.90 crore during the April–June quarter, compared with ₹2,252.12 crore in the corresponding period of the previous financial year.
The improvement reflects healthy business growth and improved operational efficiency.
Net Interest Income Registers Double-Digit Growth
The bank’s Net Interest Income (NII)—a key indicator of core lending performance—rose 12.61% year-on-year to ₹6,833 crore, up from ₹6,068 crore a year earlier.
The increase in NII indicates continued growth in the loan portfolio and improved interest earnings despite a competitive banking environment.
Focus on FCNR(B) Deposits
Bank of India said it aims to raise USD 1.2 billion through the Foreign Currency Non-Resident (Bank) [FCNR(B)] deposit scheme, helping diversify its funding sources and enhance foreign currency liquidity.
The FCNR(B) window enables banks to attract deposits from Non-Resident Indians (NRIs) in designated foreign currencies.
Key Financial Highlights
| Particulars | Q1 FY27 | Q1 FY26 | YoY Growth |
|---|---|---|---|
| Consolidated Net Profit | ₹3,302.58 crore | ₹1,829.54 crore* | +80.51% |
| Standalone Net Profit | ₹3,067.90 crore | ₹2,252.12 crore | +36.23% |
| Net Interest Income (NII) | ₹6,833 crore | ₹6,068 crore | +12.61% |
| FCNR(B) Deposit Target | USD 1.2 Billion | — | New Target |
*Approximate prior-year figure based on the reported growth percentage.
The strong quarterly performance reflects Bank of India’s improving earnings profile and healthy core banking business. Going forward, investors will watch the bank’s asset quality, credit growth, deposit mobilization, and progress toward its FCNR(B) fundraising target.
(Economy India)
