Bank of India Q1 net down 14.7% to Rs 720 cr on higher bad-loan provisions

Net interest income declines to Rs 3,145 crore from Rs 3,481 crore a year ago; net interest margin fell to 2.16 per cent in Q1FY22 from 2.48 per cent

Bank of India's (BoI's) net profit for June 2021 quarter fell by 14.7 per cent on a year-on-year basis, to Rs 720 crore on higher provisions for bad loans and standard assets.

It had posted a net profit of Rs 844 crore in the same quarter last year (Q1FY21).

The BoI stock was trading 0.88 per cent up at Rs 74.8 per share on BSE.

The bank said in a statement its net interest income (NII) fell in Q1FY22 to Rs 3,145 crore from Rs 3,481 crore in the quarter ended June 2020 (Q1FY21). Net interest margin fell to 2.16