Bank of India Q2 net doubles to Rs 1,051 cr on spike in non-interest income

However, NII fell by 14.32% in the reporting quarter to Rs 3,523 crore

Public sector lender Bank of India posted a 99.89 per cent year-on-year rise in net profit, at Rs 1,051 crore, for second quarter ended September 30, 2021 (Q2FY22), on higher non-interest income and fall in provisions for bad loans.

The lender had posted a net profit of Rs 526 crore in the same quarter last financial year (Q2FY21). Sequentially, net profit was up 45.97 per cent from Rs 720 crore in the June 2021 quarter (Q1FY22).

However, the bank's net interest income (NII), the interest earnings minus expense, fell by 14.32 per cent in the reporting quarter to Rs 3,523 crore in