1. Opening Hook
While global economists were busy downgrading growth forecasts and blaming geopolitics for everything from oil prices to office coffee, Bank of India quietly posted a decent quarter. No chest-thumping, no “best ever” banners — just steady numbers and a CEO who sounded suspiciously confident.
This was supposed to be the boring PSU bank call. Instead, it turned into a masterclass on portfolio churn, RAM obsession, and how to survive in a world where CASA is ghosting banks.
Margins improved. NPAs shrank. Guidance stayed conservative, but the pipeline numbers whispered otherwise. Management talked tech, AI, gig workers, gold loans, and even admitted CASA stress without pretending it’s “temporary.”
Read on — because somewhere between ECL math, ₹80,000 Cr pipelines, and 75% gold LTVs, this concall got far more interesting than expected.
2. At a Glance
- Net Profit ₹2,705 Cr (+7% YoY) – Not fireworks, but PSU banks don’t do fireworks anymore.
- Operating Profit ₹4,193 Cr (+13%) – Costs behaved. Miracles happen.
- NIM at 2.57% (+16 bps QoQ) – Repo cuts tried, BOI said “not today.”
- GNPA 2.26%, NNPA 0.60% – Asset quality now flexing quietly.
- PCR at 93.6% – Over-prepared, under-stressed.
- CASA ratio 37.97% – CASA left the chat, but retail TDs stayed.
3. Management’s Key Commentary
“Global business grew 12.54% YoY.”
(Steady compounding — not sexy, but it pays the bills.) 😏
“RAM advances grew 18%, retail at 20%.”
(Yes, we’re doing what every bank is doing — just without blowing up credit costs.)
“We churned low-yielding AAA PSU loans.”
(Translation: dumped 6% money, upgraded to slightly less boring yields.)
“Gold loan book is ₹47,000 Cr with negligible NPAs.”
(Gold shines, BOI keeps scissors ready.) 😌
“Pipeline of ₹80,000 Cr, corporate ₹65,000 Cr.”
(Growth already sanctioned, just waiting for paperwork gods.)
“ECL impact ~2% of CRAR, spread over five years.”
(Scary headline, very manageable math.)
“10% of Opex now goes to IT.”
(Yes, even PSU banks discovered software.) 💻
4. Numbers Decoded
| Metric | Q3 FY26 | Decoding |
|---|---|---|
| Global Advances | ₹7.40 lakh Cr | 13.6% YoY — growth without balance sheet gymnastics |
| Deposits | ₹8.87 lakh Cr | Retail TDs doing the heavy lifting |
| RAM Share | 58.5% | Marching toward 65% goal |
| NIM | 2.57% | Portfolio churn > Repo pain |
| Slippage Ratio | 0.16% | One-off road asset, not a trend |
| CRAR | 17.09% | ECL won’t break this |
