Public sector lender, Bank of India has booked rise of 15% in net profits in the last quarter of the fiscal last ended. The net profit of the bank amounted to Rs 493 crore.
Profits of the bank were also affected by the higher provisions that it had to make for gratuity and pension payments to the retired staff.
Provision for NPAs saw a dip by 15% to Rs 712 crore and also that for taxes declined by 83%.
Deposits of the bank have shown 30% growth to Rs 298,886 crore.