Hold Bank of India: target of Rs 68: Sharekhan

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26 Aug, 2025 12:21

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Sharekhan's research report on Bank of India

Bank of India (BOI) reported mixed results, wherein operating performance was below expectations (NII, PPOP, PAT below estimates), but CASA deposits rose on a q-o-q basis and encouraging asset-quality performance. Global net interest margin (NIM) fell by 8 bps from 2.66% in Q2FY2021 to 2.58% in Q3FY2021, down 40 bps y-o-y. Domestic NIM also contracted to 2.81% in Q3FY2021, down 7 bps from Q2FY2021. We believe asset-quality headwinds are likely to persist in the medium term; however, high PCR and the expected recovery may somewhat soften the impact.

Outlook

BOI currently trades at 0.31x/0.26x its FY2022E/FY2023E ABVPS. We have finetuned our estimates. We maintain our Hold rating with a revised PT of Rs. 68.

For all recommendations report, click here

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