Bank of India's net profit up by 100 per cent

Mumbai, Oct 29 (UNI) Bank of India (BoI) today said it has posted a net profit of Rs 425.27 crore for the quarter ended September 30, an increase of more than 100 per cent cent, as compared Rs 212.13 crore for the same period in 2006.

In the second quarter results, total Income of the company went up by 39 per cent to Rs 3,503.67 crore for the quarter ended September 30, as against Rs 2,519.29 crore during the corresponding period in 2006. Deposits grew by Rs 26297 crore to Rs 129590 crore, showing a growth of 25 per cent. Advances increased by 20719 crore from Rs 75097 crore to Rs 95816 crore, a growth of 27.6 per cent.

Non interest income excluding Treasury income was up by 28.5 per cent to Rs 338 crore against Rs 263 crore. Domestic net interest income went up by 18 per cent. Operating expenses came down from Rs 724 crore to Rs 674 crore, a BoI press release said.

UNI