Bank of India on Friday posted a 36.2% year-on-year rise in its net profit to Rs 3,068 crore for the June quarter on the back of a strong loan growth, higher net interest income (NII) and improved asset quality.

The bank plans to raise $2 billion under the medium-term note (MTN) programme by December 31. The loan book is expected to grow by 15-16% while deposits would run at 13-14% in FY27, Managing Director and CEO Rajneesh Karnatak said.

Bank of India is also looking at acquisition financing and may join other lenders to provide consortium lending. “We are evaluating such deals,” said Karnatak.

The NII climbed 12.6% to Rs 6,833 crore, compared to Rs 6,068 crore a year ago.

“We have improved our asset quality and pushed up our credit growth,” he added.

The net interest margin (NIM) declined to 2.52% in the June quarter from 2.55% a year ago and 2.58% in the March quarter.

Operating profit increased 26% YoY to Rs 5,051 crore in the June quarter.

The asset quality improved, with gross non-performing assets (NPAs) falling to 1.81% from 2.92% in Q1 of FY26 and 1.98% in the preceding quarter.

Net NPA declined to 0.51% from 0.75% a year ago and 0.56% in Q4 of FY26.

Provisions declined to Rs 964 crore from Rs 1,096 crore a year ago. The provision coverage ratio increased to 93.83% from 92.94% in the same period last year.

The total business grew 16.6% year-on-year to Rs 17.56 lakh crore as on 30 June 2026.

Global advances surged 18.6% YoY to Rs 7.98 lakh crore while total deposits rose 14.9% to Rs 9.58 lakh crore.

The domestic loan book grew 19.2% YoY to Rs 6.74 lakh crore, driven by both the RAM (retail, agriculture and MSME) and corporate segments.

Corporate loans grew 18.4% YoY to Rs 2.81 lakh crore, retail was up 20.6% to Rs 1.66 lakh crore. MSME grew at 19.34% to Rs 1.11 lakh crore and agri at 18.92% to Rs 1.16 lakh crore.

Domestic deposits stood at Rs 8.25 lakh crore. CASA (current account savings account) share fell to 36.68% from 39.88% a year ago and 37.64% in the preceding quarter.