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Net profit increased to Rs 6532 crore in the quarter ended September from Rs 4809 crore a year ago mainly as non-interest income almost doubled to Rs 6881 crore in September 2026 from Rs 3515 crore a year ago. The bank earned Rs 1340 crore from the sale of its partial stake in NSE in September. The gains from the NSE stake together with a 48% jump in recovery from written off accounts made up for a 9% drop in fee base income during the year. A 9% increase in net interest income (NII) to Rs 13,026 crore also supported profits. Net interest margin dropped to 2.74% from 2.96% a year earlier. BoB however hiked provisions during the quarter as the bank decided to use the windfall gains from the NSE stake sale to buffer up its balance sheet. A Rs 1300 crore prudential provision to deal with the expected credit loss (ECL) provision rules which are likely to kick off in April next year. The bank also added another Rs 300 crore contingency provisions to deal with volatilities in investments during the quarter. CEO Debadatta Chand said the bank has hiked its credit and deposit growth forecast for the year by a percentage point each noting the strong growth that the bank recorded in the first two quarters. “We now expect credit growth to be between 13% to 15% for the current fiscal and deposit growth 11% to 13% for the current fiscal. Growth in the first half has been strong and with the business momentum we have in retail, MSMEs and corporate books we should do better in the busy season,” Chand said. Total loan book of the bank increased 18% year on year to Rs 15.12 lakh crore led by 40% growth in international advances mostly likely due to the leverage offered by the bank for FCNR (B) deposits. Aggregate deposits increased 17% to Rs 14.83 lakh crore. The bank collected $8.08 billion of FCNR (B) deposits through the special scheme, 70% of which was from the leverage provided by the bank. Retail Advances grew 19% led by auto loans (28%) and mortgage loans (20%), while loans to MSME grew 21% year on year. Corporate loan growth was relatively slower at 6% but Chand said the bank has a pipeline of Rs 60,000 crores. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
document fetched 2026-10-31 02:56