Bank of India is a leading public sector bank in India. It was founded in 1906 and is headquartered in Mumbai. The bank has 4,937 branches in India, including 58 overseas branches, and offers a wide range of banking products and services to its customers. It offers retail banking, corporate banking, international banking, NRI banking, and financial services. It is one of the few banks in India to have won multiple awards for its performance.
As of the Q1 2024, its total revenues were ₹14,432 Crores, and it had a net profit of Rs. 1,562 Crore and a pre-tax profit margin of 19.94%. The company has a market capitalization of ₹44,868 Crore (24th September, 2023).
Bank of India Q1 FY2024 Earnings: 5 Stunning Numbers to Watch Out For
Bank of India recently announced their Q1 FY2024 earnings. We have summarised the report for you in 5 bullet points.
- Bank of India’s net profit surged by a significant 176% YoY in Q1FY24, reaching Rs. 1,551 crores.
- The bank reported a substantial growth in operating profit, up by 72% YoY, and an impressive rise in NII by 45% YoY.
- The bank reduced its Gross NPA and Net NPA ratios by 263 bps and 56 bps respectively, demonstrating improved asset quality.
- The bank’s Global Business crossed a milestone of Rs. 12 lakh crore, with robust growth in lending across Retail, Agriculture, and MSME credit.
- Despite multiple strengths, a key concern for the bank remains the high interest payments compared to earnings.
BOI Stock Price History
Bank of India has been listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) since 1923. The bank’s stocks have had a volatile history, with the stock price reaching a high of ₹558.20 in October 2010 and a low of ₹41.30 in March 2020. The stock has since recovered and is currently trading at ₹109.00 as of September 24th, 2023. Bank of India’s stocks has generally been underperforming compared to the broader markets. The current market cap is ₹44,868 Crore and a ROCE of 4.42%.
BOI in Recent News
- Q1 Results from Bank of India: A 176% surge in net profit to Rs 1551 crore.
- Yusuf Roopawalla assumes new role as CTO at Bank of India.
- Bank of India inaugurates three specialized centers for DPIIT registered startups.
- Bank of India witnesses significant YoY operating profit growth of 72%, along with a noteworthy 45% YoY increase in NII.
If you want to buy Bank of India shares, you can do so by opening a Demat account with a stockbroker. You can then transfer money to your broker’s account and use the funds to buy Bank of India shares. It is important to do your own research and understand the risks associated with investing in stocks before investing. Some of the platforms to buy shares online are Zerodha, Angel Broking, HDFC Securities, and ICICI Direct.
However I recommend PayTM money for buying Bank of India shares. I personally use PayTM money for buying and selling shares.
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Bank of India’s share price target for 2023 looks promising with a bullish trend from July to December. The minimum price in December 2023 is expected to be around ₹92.61, while the maximum price could reach up to ₹130.40. The bank may show real growth potential in the third and fourth quarters of 2023, which could further boost investor confidence.
In my opinion, Bank of India represents a solid investment opportunity among public sector banks, having reported a revenue of ₹14,442 crores and a net profit of ₹1,562 crores in the most recent Q1 FY2024 quarter.
BOI is currently trading at Rs.109 as of September 24th, 2023.
Investors may want to keep an eye on the bank’s performance and upcoming announcements to make informed investment decisions.
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Bank of India’s share price target for 2024 shows an upward trend throughout the year.
The maximum price is expected to reach ₹168.56 in December 2024, while the minimum price could be around ₹87.35 in May 2024. The bank’s performance looks promising, with consistent growth potential. In January 2024, the maximum price could be around ₹126.74, and the minimum price could be around ₹97.49.
Similarly, in February 2024, the maximum price could reach ₹142.40, and the minimum price could be around ₹118.67. Bank of India’s performance in the fourth quarter of 2024 looks particularly strong, with the maximum price expected to reach ₹165.26 in November and ₹168.56 in December.
Investors should keep an eye on the bank’s financial reports and announcements to make informed investment decisions.
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Bank of India’s share price target for 2025 shows a positive trend with an expected upward movement in the share price throughout the year. The maximum price for the year is expected to be around ₹204.47 in December 2025, while the minimum price is expected to be around ₹118.65 in May 2025.
The bank’s performance in the year looks promising, with growth potential that investors can take advantage of. In January 2025, the maximum price could be around ₹171.94, and the minimum price could be around ₹132.26. Similarly, in February 2025, the maximum price could reach ₹180.98, and the minimum price could be around ₹139.22.
The bank’s growth percentage is expected to be high, with the maximum price projected to be around ₹200.46 in November 2025, indicating a significant increase from the beginning of the year.
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After reaching the glory of ₹ 204.47 in 2025, the market will be bearish and will reach ₹ 85.16 in 2027. The market will see a significant bull run in 2028 for 2 years and will reach the price of ₹ 449.84 by the end of 2029. The share prices will also cross the mark of ₹500 in 2030 and end the decade with glory.
Bank of India Financial Condition: Last 5 years
Please note that the values are represented in crores (Indian Rupees) unless otherwise specified.
Bank of India’s revenue fluctuated over the last five years, with a peak of 42,591 crores INR in March 2020 and a low of 38,281 crores INR in March 2022. However, it saw a significant increase in revenue in March 2023, reaching 47,932 crores.
The sales of Bank of India have experienced a compounded growth rate of 5% over the past five years. This seems to be on the lower side. For Bank of India shares to go higher, BOI should look upon increasing its sales.
Expenses showed a declining trend, with a notable decrease from 26,874 crores in March 2019 to 16,263 crores in March 2022, followed by a slight increase to 21,177 crores in March 2023. This is a positive sign.
Net profit improved over the years, showing a positive trajectory from -5,426 crores in March 2019 to 3,839 crores in March 2023.
This is why we are seeing the BOI shares start going upward.
Earnings per share (EPS) also improved from -19.67 in March 2019 to 9.35 in March 2023, indicating a positive trend.
The financial condition of the bank has improved from the last 2 years. It is expected that BOI will continue posting positive numbers which should reflect on its share price in a positive manner. As per our analysis, the best BOI can reach in 2023 is ₹120.40
What is the market cap of the Bank of India?
As of September 24th 2023, the market capitalization of Bank of India is around ₹44,811 Crore.
The future of Bank of India looks bright as it is currently performing well and is expected to maintain the same in the years ahead. Hence, 2025 is expected to be a great year for BOI share holders. According to our analysis and calculation, the Bank of India Share price will reach a maximum of 204.47 INR by the end of 2025.
As per our analysis, Bank of India may reach Rs. 500 by 2030.
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Bank of India is a leading public sector bank in India, which is trading above 50 and 200 days moving average. Bank of India’s Book Value is Rs. 147 and the best part about buying Bank of India shares today is that the stock is trading at only 0.74 times of its book value.
The bank has been delivering 21.2% CAGR profit growth over last 5 years.
Bank of India has shown strong revenue growth with a 3-year compound annual growth rate (CAGR) of 52.91% and a diluted EPS 3-year CAGR of 17.16%. This indicates the potential for future growth.
The bank’s stocks have had a volatile history, with the stock price reaching a high of ₹542.20 in November 2010 and a low of ₹41.30 in March 2020.
The stock has since recovered and is currently trading at ₹109 as of September 24th, 2023. Bank of India’s price prediction for 2023, 2024, or 2025 is highly dependent on the performance of the bank and the overall market conditions. However next two years should be bullish for public sector banks like BOI.
If the bank’s performance is strong and the market remains bullish, then it is possible that the share price could increase in the future.
Bank of India’s current P/E ratio is 9.45, which indicates that the stock is trading at a relatively low multiple compared to its earnings.
With respect to other bank stocks, I find the valuation cheap, when compared to its earnings. This is why I am holding BOI shares in my long term portfolio.
What did we learn?
- 1 Bank of India Q1 FY2024 Earnings: 5 Stunning Numbers to Watch Out For
- 2 BOI Stock Price History
- 3 BOI in Recent News
- 4 How to buy Bank of India shares in India?
- 5 BOI Share Price Prediction 2023-2030
- 6 Bank of India Financial Condition: Last 5 years
- 7 FAQs
- 8 Conclusion: Should you buy BOI shares in 2023?