Bank of India: profits rise more than 50% 

Bank of India Skyrocketed Profits

Bank of India is an Indian Public Sector Bank.  Which is run by the Indian Government It is more focused on public service rather than profit, and the Bank of India has managed to achieve a huge profit. 

In today’s news article of Bhartiye Times, we will provide you with some financial information about the Bank of India’s profit that risen more than 50% 

Bank of India reported a net profit of more than 52% in comparison to the quarter last year the last quarter’s profit was Rupees 960 crores and now it increased by 52% which is 1,458 crore 

According to the reports, the profit rose due to a 13%  rise in the interest income to Rupees 5,740 crore from 5,083 crore in the last year quarter. CEO and MD Rajneesh Karnataka said that the bank will retain its net margin. 

Recently bank of India reported a net profit of 1,458 in this quarter in correspond to last year which was just 970 crore. Which we increment in comparison to the last year. Almost 52% of profit has been increased. 

Reports coming out that the MD and CEO of Bank Of India Mr. Rajneesh Karnataka has said that the Bank will retain its net interest margin of currently at 3.08% and it will be at 3% for the whole year. 

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