ICRA assigns AA+ Stable issuer rating, reaffirms Tier II bonds rating

ICRA assigned Bank of India an Issuer Rating of AA+ (Stable) and reaffirmed its Basel III Tier II Bonds rating at AA+ Stable for Rs 2,500 crore. The rating reflects Government of India ownership at 73.38 percent, strong capital position with CET1 at 15.05 percent, and improving asset quality with gross NPA falling to 1.98 percent from 3.27 percent in FY2025. Net profit rose to Rs 10,527 crore in FY2026 from Rs 9,219 crore in FY2025. Return on assets stood at 0.96 percent, slightly below the public sector bank average of 1.12 percent.