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 ₹54,887 Cr (25th August 2024).
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 ₹121 as of August 25th, 2024. Bank of India’s stocks has generally been underperforming compared to the broader markets. The current market cap is ₹54,887 Crore and a ROCE of 5.69 %.
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.
| When | Maximum Price | Minimum Price |
| September 2024 | 135.45 | 117.79 |
| October 2024 | 144.11 | 116.62 |
| November 2024 | 159.48 | 121.28 |
| December 2024 | 170.87 | 122.50 |
In September 2024, Bank of India is expected to reach a maximum price of ₹135.45 and a minimum price of ₹117.79. Moving into October 2024, the bank’s maximum price is projected to be ₹144.11, with a minimum price of ₹116.62. For November 2024, the maximum price is anticipated to be ₹159.48, while the minimum price is expected to be ₹121.28. By December 2024, Bank of India is forecasted to achieve a maximum price of ₹170.87 and a minimum price of ₹122.50.
| When | Maximum Price | Minimum Price |
| January 2025 | 182.28 | 109.45 |
| February 2025 | 193.72 | 110.55 |
| March 2025 | 186.74 | 112.87 |
| April 2025 | 205.28 | 111.76 |
| May 2025 | 211.05 | 108.50 |
| June 2025 | 227.40 | 113.38 |
| July 2025 | 234.51 | 111.16 |
| August 2025 | 248.98 | 114.60 |
| September 2025 | 250.77 | 115.97 |
| October 2025 | 254.69 | 118.99 |
| November 2025 | 258.55 | 121.96 |
| December 2025 | 265.69 | 127.45 |
As we step into January 2025, Bank of India is projected to reach a maximum price of ₹182.28 and a minimum price of ₹109.45. By December 2025, the bank’s maximum price is anticipated to be ₹265.69, with a minimum price of ₹127.45.
| Year | Maximum Price | Minimum Price |
| 2026 | ₹378.69 | ₹178.48 |
| 2027 | ₹409.76 | ₹199.13 |
| 2028 | ₹498.26 | ₹157.13 |
| 2029 | ₹540.92 | ₹320.46 |
| 2030 | ₹613.19 | ₹319.23 |
As we approach 2026, Bank of India is expected to reach a maximum price of ₹378.69 and a minimum price of ₹178.48. Moving into 2027, the bank’s maximum price is projected to be ₹409.76, with a minimum price of ₹199.13. For 2028, Bank of India is anticipated to achieve a maximum price of ₹498.26 and a minimum price of ₹157.13. In 2029, the maximum price is expected to be ₹540.92, while the minimum price is forecasted to be ₹320.46. Finally, as we step into 2030, Bank of India is projected to reach a maximum price of ₹613.19 and a minimum price of ₹319.23.
Bank of India Financial Condition: Last 5 years
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Revenue | 42,591 | 40,854 | 38,281 | 47,932 | 61,073 | 63,677 |
| Interest | 27,191 | 26,421 | 24,083 | 27,441 | 37,757 | 39,983 |
| Expenses + | 26,386 | 17,672 | 16,263 | 21,177 | 18,848 | 20,046 |
| Financing Profit | -10,987 | -3,239 | -2,065 | -686 | 4,469 | 3,648 |
| Financing Margin % | -26% | -8% | -5% | -1% | 7% | 6% |
| Other Income + | 6,687 | 6,778 | 8,092 | 7,168 | 6,415 | 6,087 |
| Depreciation | 392 | 380 | 372 | 427 | 509 | 0 |
| Profit before tax | -4,692 | 3,160 | 5,655 | 6,056 | 10,375 | 9,735 |
| Tax % | -35% | 34% | 38% | 37% | 37% | |
| Net Profit + | -3,051 | 2,081 | 3,487 | 3,839 | 6,567 | 6,894 |
| EPS in Rs | -9.31 | 6.36 | 8.51 | 9.35 | 14.42 | 15.5 |
| Dividend Payout % | 0% | 0% | 24% | 21% | 19% |
Revenue and Expenses:
Bank of India has demonstrated notable growth in its revenue over the past five years. The bank’s revenue increased from ₹42,591 crore in March 2020 to ₹61,073 crore by March 2024, with a trailing twelve months (TTM) revenue of ₹63,677 crore. This growth highlights the bank’s expanding operations and market presence. In contrast, expenses exhibited some variability, peaking at ₹26,386 crore in March 2020 and decreasing to ₹18,848 crore by March 2024, with TTM expenses at ₹20,046 crore. This fluctuation in expenses reflects the bank’s efforts in cost management and operational efficiency.
Interest and Financing Profit:
Interest expenses have risen considerably, from ₹27,191 crore in March 2020 to ₹37,757 crore by March 2024, with TTM interest at ₹39,983 crore. This increase in interest expenses indicates higher borrowing costs and their impact on the bank’s financing profit. The financing profit, which was negative in previous years, improved significantly to ₹4,469 crore by March 2024, with TTM financing profit at ₹3,648 crore. The financing margin also improved from a negative 26% in March 2020 to a positive 7% in March 2024, reflecting better management of financing costs and enhanced profitability.
Other Income and Depreciation:
Other income remained a significant component of the bank’s financial performance, although it fluctuated over the years. It ranged from ₹6,687 crore in March 2020 to ₹6,415 crore in March 2024, with TTM other income at ₹6,087 crore. Depreciation increased from ₹392 crore in March 2020 to ₹509 crore by March 2024, reflecting the bank’s investment in infrastructure and fixed assets.
Profit Before Tax and Net Profit:
Profit before tax (PBT) turned positive in March 2021 and showed substantial growth, reaching ₹10,375 crore in March 2024, with TTM PBT at ₹9,735 crore. This significant increase in PBT highlights the bank’s effective cost management and revenue growth strategies. The net profit also saw a remarkable improvement, rising from a loss of ₹3,051 crore in March 2020 to ₹6,567 crore by March 2024, with TTM net profit at ₹6,894 crore. This increase in net profit reflects enhanced operational efficiency and stronger overall performance.
EPS and Dividend Payout:
Earnings per share (EPS) improved from a negative ₹9.31 in March 2020 to ₹14.42 in March 2024, with TTM EPS at ₹15.5. This growth in EPS indicates better earnings and stronger returns for shareholders. The dividend payout ratio, which was zero in earlier years, stabilized around 19% by March 2024, demonstrating the bank’s commitment to returning value to its shareholders.
In summary, Bank of India has shown significant improvement in its financial performance over the past five years. The bank’s revenue growth, enhanced financing margins, and increased profitability highlight its successful operational strategies and cost management efforts. The positive trends in EPS and net profit, along with a stable dividend payout, reflect the bank’s solid financial position and its commitment to delivering value to shareholders.
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 ₹170.87 in 2024.
What is the market cap of the Bank of India?
As of August 25th, 2024, the market capitalization of Bank of India is around ₹54,887 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 ₹265.69 INR by the end of 2025.
As per our analysis, Bank of India could reach Rs. 500 by 2029.
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 strong 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 7.96, 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.
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