Shares of Bank of India were trading at ₹116.65, up 0.43%, on the NSE at 3:02 PM.
The bank had posted strong earnings for the March quarter, reporting an 82.5% year-on-year jump in net profit to ₹2,626 crore, up from ₹1,439 crore in the year-ago period.
Net Interest Income (NII) rose modestly by 2.1% to ₹6,063 crore. Asset quality also improved, with gross NPAs falling to 3.27% from 3.69%, and net NPAs easing to 0.82% from 0.85% a year earlier.
Separately, other public sector lenders are also lining up fund-raising plans. Union Bank of India’s board on Tuesday approved raising up to ₹6,000 crore through a mix of equity and debt instruments. This includes ₹3,000 crore via equity—through options like FPO, QIP or rights issue—and another ₹3,000 crore via AT1 and Tier-2 bonds.
Meanwhile, State Bank of India, the country’s largest lender, has appointed six bookrunners for its planned ₹25,000 crore QIP, approved by its board in May, according to CNBC-TV18 sources. These include HSBC, Citi, Kotak, Morgan Stanley, ICICI Securities and SBI Capital Markets.
