Exclusive: Rajneesh Karnatak, MD & CEO, BoI, On Q1, NPAs, NII, CASA & FY25 Growth Plans

Bank of India (BoI) has reported a 10% year-on-year (YoY) increase in net profit for the quarter ending June 2024 (Q1FY25), reaching Rs 1,703 crore compared to Rs 1,551 crore in the same period last year. Net interest income (NII) grew by 6% YoY to Rs 6,275 crore, up from Rs 5,915 crore, driven by strong advances in growth. However, non-interest income fell by 12% YoY to Rs 1,302 crore. The net interest margin improved to 3.07% in Q1FY25, up 14 basis points from the previous quarter. Provisions surged 57% YoY but declined by 29% sequentially, totalling Rs 1,293 crore. Gross slippages amounted to Rs 2,973 crore, with MSME sector slippages at Rs 1,056 crore, retail at Rs 588 crore, and agriculture at Rs 737 crore. Corporate slippages for the quarter were Rs 564 crore. Business Today TV's Siddharth Zarabi speaks with Rajneesh Karnatak, MD & CEO of Bank of India, about the bank's first-quarter results, NPAs, net interest income (NII), CASA, and growth strategies for FY25.