Buy Bank of India: target of Rs 100: 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) posted mixed results for Q4FY2021 where, operational numbers were below expectations and NIMs contracted, but despite challenges, the asset quality improved. Weak topline resulted in margin contraction and FY2021 domestic NIMs stood at 2.7%, down 58 bps, while global NIM at 2.48% was down 45 bps from FY2020 levels. Asset quality improved with GNPA/NNPA at 13.77%/3.35%, down 83 bps/38 bps, respectively, from proforma GNPA/NNPA ratio, SMA 1 and 2 book has nearly halved on a q-o-q basis; CET-1 improved to 11.5%.

Outlook

We have fine tuned our estimates and target multiples. We upgrade the stock to Buy with a revised PT of Rs. 100.

For all recommendations report, click here

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