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Bank of India's Q2 FY26 results showcase solid growth and improved asset quality for the quarter and half-year.
1. **Business Performance:** Global Business expanded 11.83% YoY to ₹15.62 lakh Cr, primarily driven by a 14.03% increase in Global Advances. RAM advances (Retail, Agriculture, MSME) surged an impressive 17.02% YoY, with Retail advances climbing 19.96%. Global Deposits also grew 10.08% YoY.
2. **Growth Drivers or Strategy:** Digital transformation remains a key focus. Recent initiatives include new BOI Omni NEO platform features, Biometric UPI authentication, an expanded e-platform with 29 live products, and growing WhatsApp Banking users. The bank has also secured approval for a ₹5,000 Cr capital plan and ₹20,000 Cr in infrastructure bonds to support future growth.
3. **Recent Developments:** The bank launched new special debit cards like BOI Braille Card and premium credit cards, reflecting innovation in customer offerings.
4. **Key Financial Metrics:** Net Profit for Q2 rose 8% YoY to ₹2,555 Cr, with half-year profit up 18% to ₹4,807 Cr. Asset quality significantly improved, with Gross NPA dropping 187 bps YoY to 2.54% and Net NPA at 0.65% (down 29 bps YoY). Provision Coverage Ratio stands strong at 93.39%. CET-1 Capital Adequacy is at 13.89%.
5. **Management Commentary / Outlook:** No explicit management commentary was provided, but strategic capital raises and ongoing digital initiatives highlight a proactive approach to growth and operational efficiency.