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.
The company has a market capitalization of ₹ 62,371 Cr (26th February 2024).
Bank of India Q3 Financial Highlights
- Bank of India (BoI) reported a strong Q3 performance:
- Net profit surged 62% year-on-year to Rs 1,870 crore.
- Net interest income (NII) dipped by 2% year-on-year to Rs 5,463 crore.
- Advances grew by 11% to Rs 5.65 trillion, with a focus on retail, agriculture, and MSME loans.
- BoI aims to maintain a net interest margin (NIM) around 3%, despite rising deposit costs.
- Asset quality improved:
- Gross and net non-performing asset (GNPA, NNPA) ratios moderated to 5.35% and 1.41% respectively, as of December 31.
- BoI targets to further reduce GNPA to 5.10% and NNPA to 1.30% by March-end.
- The bank bolstered its capital base:
- Raised Rs 4,500 crore through qualified institutional placement (QIP).
- Capital adequacy ratio stood at 16.06% as of December end.
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 ₹137 as of February 26th, 2024. Bank of India’s stocks has generally been underperforming compared to the broader markets. The current market cap is ₹62,371 Crore and a ROCE of 4.42 %.
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.
| Month | Maximum Price (₹) | Minimum Price (₹) |
|---|---|---|
| March 2024 | ₹144.200 | ₹120.167 |
| April 2024 | ₹120.167 | ₹100.139 |
| May 2024 | ₹100.139 | ₹83.449 |
| June 2024 | ₹110.153 | ₹91.794 |
| July 2024 | ₹132.183 | ₹110.153 |
| August 2024 | ₹171.838 | ₹143.199 |
| September 2024 | ₹173.385 | ₹144.487 |
| October 2024 | ₹188.990 | ₹157.491 |
| November 2024 | ₹198.439 | ₹165.366 |
| December 2024 | ₹190.879 | ₹159.066 |
Throughout 2024, the prices of BOI are forecasted to exhibit notable fluctuations, showcasing a dynamic market trend. At the onset in March, analysts anticipate the maximum price to soar to ₹144.200, while the minimum might settle around ₹120.167. Subsequently, as the year progresses, investors can expect these values to undergo further variations, culminating in December where the maximum is projected to peak at ₹190.879 and the minimum to stabilize around ₹159.066.
| Month | Maximum Price (₹) | Minimum Price (₹) |
|---|---|---|
| January 2025 | ₹229.055 | ₹184.722 |
| February 2025 | ₹241.111 | ₹172.222 |
| March 2025 | ₹265.222 | ₹213.889 |
| April 2025 | ₹139.590 | ₹99.707 |
| May 2025 | ₹151.729 | ₹122.362 |
| June 2025 | ₹180.694 | ₹129.067 |
| July 2025 | ₹177.151 | ₹142.864 |
| August 2025 | ₹194.866 | ₹139.190 |
| September 2025 | ₹194.866 | ₹157.150 |
| October 2025 | ₹216.518 | ₹154.655 |
| November 2025 | ₹220.848 | ₹178.103 |
| December 2025 | ₹225.265 | ₹160.904 |
In 2025, BOI’s prices are anticipated to experience fluctuations, reflecting the dynamic nature of the market. Starting in January, analysts predict the maximum price to reach ₹229.055, while the minimum may stabilize around ₹184.722. As the year progresses, investors can expect further variations in these values, with December projected to see the maximum price peaking at ₹225.265 and the minimum settling around ₹160.904.
| Year | Maximum Price | Minimum Price |
| 2026 | ₹278.69 | ₹178.48 |
| 2027 | ₹309.76 | ₹199.13 |
| 2028 | ₹378.26 | ₹157.13 |
| 2029 | ₹440.92 | ₹320.46 |
| 2030 | ₹513.19 | ₹319.23 |
It appears that BOI shares are poised for a positive trajectory in the coming years. Starting from 2026, the maximum price of BOI shares is expected to ascend to ₹278.69, indicating potential growth opportunities for investors. Correspondingly, the minimum price in the same year is forecasted to stabilize around ₹178.48, suggesting a relatively stable market floor for BOI shares.
Moving forward to 2027, the upward trend continues, with the maximum price projected to rise further to ₹309.76. This signifies a continued bullish sentiment surrounding BOI shares, possibly driven by favorable market conditions or improved company performance. Conversely, the minimum price in 2027 is anticipated to remain above ₹199.13, indicating sustained investor confidence in BOI’s long-term prospects.
As we progress to 2028, the outlook remains optimistic for BOI shares, with the maximum price expected to climb to ₹378.26. This uptrend suggests growing investor interest and potentially robust financial performance by BOI. However, it’s worth noting that even amidst this growth, the minimum price is forecasted to stay above ₹157.13, indicating a resilient market sentiment and a degree of stability in BOI’s valuation.
Looking ahead to 2029, the upward trajectory of BOI shares appears to strengthen, with the maximum price forecasted to reach ₹440.92. This significant increase suggests continued confidence in BOI’s business prospects and may attract more investors seeking growth opportunities. Similarly, the minimum price is anticipated to remain relatively high at around ₹320.46, reflecting sustained investor interest and confidence in BOI’s resilience.
Finally, by 2030, the bullish momentum for BOI shares is expected to culminate, with the maximum price projected to surge to ₹513.19. This milestone signifies substantial growth potential and heightened investor optimism regarding BOI’s future performance and market position. Despite this growth, the minimum price is predicted to maintain a robust level above ₹319.23, underlining the enduring confidence in BOI’s fundamentals and long-term viability.
Bank of India Financial Condition: Last 5 years
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|
| Revenue Crore Rs |
41,005 | 42,591 | 40,854 | 38,281 | 47,932 |
| Interest Crore Rs |
27,207 | 27,191 | 26,421 | 24,083 | 27,441 |
| Expenses Crore Rs |
26,874 | 26,386 | 17,672 | 16,263 | 21,177 |
| Financing Profit Crore Rs |
-13,076 | -10,987 | -3,239 | -2,065 | -686 |
| Financing Margin % |
-32% | -26% | -8% | -5% | -1% |
| Other Income Crore Rs |
4,862 | 6,687 | 6,778 | 8,092 | 7,168 |
| Depreciation Crore Rs |
373 | 392 | 380 | 372 | 427 |
| Profit before tax Crore Rs |
-8,587 | -4,692 | 3,160 | 5,655 | 6,056 |
| Tax % | 37% | 35% | 34% | 38% | 37% |
| Net Profit Crore Rs |
-5,426 | -3,051 | 2,081 | 3,487 | 3,839 |
| EPS in Rs | -19.67 | -9.31 | 6.36 | 8.51 | 9.35 |
| Dividend Payout % |
0% | 0% | 0% | 24% | 21% |
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.
FAQs
The financial condition of the bank has improved over the past two years. It is expected that BOI will continue to demonstrate positive performance, which should have a favorable impact on its share price in 2024. As per our analysis, BOI’s share price is expected to reach a maximum of ₹198.439 in 2024.
What is the market cap of the Bank of India?
As of February 26th, 2024, the market capitalization of Bank of India is around ₹62,371 Cr.
The future of Bank of India looks promising, given its current strong performance and expected continuity of positive results in the years to come. Hence, 2025 is anticipated to be a significant year for BOI shareholders. According to our analysis and calculations, the Bank of India’s share price is projected to reach a maximum of ₹225.265 INR by the end of 2025.
As per our analysis, Bank of India could reach Rs. 500 by 2030.
Also read:
- Central Bank of India share price target 2024 to 2030
- HDFC Bank Share Price Target 2024 to 2030
- Tata Power share price target 2024 to 2030
Bank of India appears to be on a promising trajectory, poised for continued growth and success in the coming years. With a strong Q3 performance and a focus on maintaining robust financial fundamentals, the bank demonstrates resilience and adaptability in a dynamic market landscape. As it continues to enhance its offerings and expand its reach, Bank of India is well-positioned to deliver value to its shareholders while contributing positively to India’s banking sector. With a clear vision for the future and a commitment to excellence, Bank of India stands as a beacon of stability and opportunity in the financial market.
Bank of India’s current P/E ratio is 9.61, 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.
Linkedin
