Bank of India Sees Robust Credit and Deposit Growth

The State-owned Bank of India has reported a significant credit growth of 14.4% to Rs 6.21 lakh crore in Q2 2023. Total deposits increased by 10.1% to Rs 7.75 lakh crore, leading to a total business growth of 12% at Rs 13.96 lakh crore by September's end.

The State-owned Bank of India (BoI) has posted impressive financial results for the second quarter, ending September 2023, solidifying its position in the banking sector.

The Bank registered a credit growth of 14.4%, bringing its credit to a substantial Rs 6.21 lakh crore, as per a recent regulatory filing. This marks a notable rise from preceding figures.

Additionally, the lender reported a commendable 10.1% increase in total deposits, reaching Rs 7.75 lakh crore. Overall, the bank's business expanded by 12% to achieve Rs 13.96 lakh crore, showcasing its resilient financial performance.

(With inputs from agencies.)