Bank of India Sees Robust Financial Growth in December Quarter

The State-owned Bank of India reported significant financial growth for the December quarter. The bank's credit growth rose by 15.3% to Rs 6.51 lakh crore. Total deposits increased by 12.3% to Rs 7.94 lakh crore, while total business jumped by 13.6% to Rs 14.46 lakh crore.

The State-owned Bank of India (BoI) reported a noteworthy credit growth of 15.3% for the December quarter, reaching Rs 6.51 lakh crore, according to a regulatory filing on Friday.

As of December 31, 2023, the bank's total advances stood at Rs 5.65 lakh crore. This reflects BoI's strategic positioning in the financial sector.

The bank also experienced a 12.3% increase in total deposits, totaling Rs 7.94 lakh crore, compared to the previous year's third quarter. Meanwhile, the overall business reached Rs 14.46 lakh crore, marking a rise of 13.6% from the previous year.

(With inputs from agencies.)