Credit Rating

° r '476 BOI B1ank of India (cid:9) Ref. No.:HO:IRC:SVM:2026-27:16 fti-tT. Date: 28.08.2026 Scrip Code: BANKINDIA Scrip Code: 532149 The Vice President — Listing Department, The Vice-President — Listing Department, National Stock Exchange of India Ltd., BSE Ltd., Exchange Plaza, 25, P.J. Towers, Dalal Street, Bandra Kurla Complex, Bandra East, Mumbai 400 001 . Mumbai 400 051 (cid:9) Dear Sir/Madam, Reporting under Regulation 30 & Regulation 55 of SEBI (LODR) Regulations Credit Rating & Press release of Basel-III compliant Additional Tier I & Tier II Bonds — Reaffirmed by Acuite Ratings & Research In terms of Regulation 30 read with point 3 of Para A of Part A of Schedule III and Regulation 55 of SEBI (LODR) Regulations, 2015. We wish to inform that the rating agency, Acuite Ratings & Research has reaffirmed ratings of our Bank's Basel-III compliant Additional Tier I & Tier II Bonds rating as per details given below: Sr ISIN Name of Credit Outlook Rating(cid:9) Date of(cid:9) Verificati(cid:9) Date of the Credit Ratin (Stable/ Action (New/ Credit Rating on Status(cid:9) verification N Rating Positive Upgrade/ of Credit Agency Assig Downgrade/ Rating ned Negativ Reaffirm/ Agencies e/No Other) Outlook 2. 3. 4. 5.(cid:9) 6. 7.(cid:9) 8. 9. I N E084A08169 AA+ Stable Reaffirmed 28-08-2026(cid:9) Verified 28-08-2026 (Additional Tier-I Acuite Bonds) Ratings & INE084A08151 Research MA Stable Reaffirmed 28-08-2026 Verified 28-08-2026 (Tier-II Bonds) 2. Press Release issued by Acuite Ratings & Research dated 28.08.2026 is also attached. 3. This is for your information and appropriate dissemination. Yours faithfully, .f.(cid:9) .,.. le 4- °F fiv:':,‘"N' N1.(cid:9) C. % aT Cr. W. i; *1115-1.0- *ill; 4 7171 1 1ft,rr(cid:9) / Investor ReaziOns .1 Depth. (Usha Ramsinghani) Company Secretary AIM <mg rig 1(cid:9) IQm #01 :A4 $, RP' trdlii- I , 3fTEraTtNIT, 01-5 01-acircn(cid:9) , VAT yuf tis30, tar(cid:9) Virt - 400 051 Head Office: Investor Relations Cell, Star House-I, 8th Floor, C-5, G-Block, Bandra Kuria Complex, Bandra (East), Mumbal - 400 051 Ph.: (022) 6668 4490 /4491 Email: headoffice.share@bankofindia.bankin Acuite RATINGS & RESEARCH Press Release August 28, 2026 BANK OF INDIA Rating Reaffirmed and Withdrawn Quantum (Rs. Cr) Quantum (Rs. Cr) Short Term Regulated Product Long Term Rating (SEB1) (Other FSR) Rating By AMITE AA+ IS (cid:9) table I BOND 1500.00 0.00 - SEB1 Reaffirmed -, - ACUITE AAA I Stable I BOND 2000.00 0.00 - SEBI Reaffirmed Not Applicable I BOND 0.00 148.00 - MCA Withdrawn Not Applicable I BOND 1352.00 0.00 - SEBI Withdrawn Total 3500.00 0.00 - - - Outstanding Total 1352.00 148.00 - - - Withdrawn Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance /dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available. Rating Rationale Acuite has reaffirmed the long-term rating of 'ACUITE AA+' (read as ACUITE double A Plus) on the Rs. 1500.00 crore Basel III Additional Tier-1 Bonds of Bank of India. The outlook is 'Stable'. Acuite has reaffirmed the long-term rating of `ACUITE AAA' (read as ACUITE triple A) on the Rs. 2000.00 crore Basel III compliant Tier-H Bonds of Bank of India. The outlook is 'Stable'. Acuite has withdrawn its long-term rating on the Rs. 148.00 Cr. Proposed Perpetual Additional Tier-1 Bonds of Bank of India without assigning any rating. The withdrawal is on account of request received from the issuer. Acuite has also withdrawn its long-term rating on the Rs. 750.00 Cr. Basel III Additional Tier-I Bonds & Rs. 602.00 Cr. Basel III Additional Tier-I Bonds of Bank of India without assigning any rating and we have received No Due Confirmation received from the trustee. The withdrawal is on account of request received from the issuer. The rating withdrawal is in accordance with Acuite's policy on withdrawal of rating as applicable to the respective facility / instrument. Rationale for the rating The rating takes into consideration the sustained improvement in the earning profile, capital position and asset quality. Accordingly the bank reported a PAT of Rs. 10527.15 Cr. as on March 31, 2026 against Rs. 9219.02 Cr. in FY25. This is the highest ever PAT that has been recorded by the bank. The rating further factors in the growth momentum in the overall business with the domestic advance scaling to Rs 6,73,833 Cr. as on Q1FY27 from Rs. 5,65,297 Cr. as on Q1FY26 which is a 19.20% growth year on year. The rating continues to factor in BoI's strong parentage and demonstrated capital support from the Government of India. This is well reflected in the bank's healthy capitalization levels, with overall capital adequacy ratio of 18.01% as on March 31, 2026 [Tier 1 CAR: 15.35%] from 17.77% as on March 31, 2025 [Tier I CAR: 15.47%]. The rating also takes into account an improvement in the bank's financial performance primarily led by decline in slippages and overall credit costs. The ratings continue to factor in BoI's healthy liability profile characterized by Current Account Savings Account (CASA) mix of 36.88% as on June 30, 2026 from 39.88% as on June 30, 2025. Additionally, the bank's high provision cover of 93.83% as on June 30, 2026 from 92.94% as on June 30, 2025 which provides adequate buffer against near to medium term asset quality risks. These strengths are offset by the bank's modest albeit improving asset quality. The bank's GNPA and NNPA stood at 1.98% and 0.56% respectively as on March 31, 2026 from 3.27% and 0.82% respectively as on March 31, 2025. While the bank continues to have healthy provision cover, performance of restructured portfolio and asset quality in softer buckets continue to be critical. Going forward, the bank's ability to maintain an upward trajectory in overall financial performance as well as contain asset quality risks will be key monitorables. For ATI bond ratings, Acuite has considered higher risk features including the discretion of coupon payments in a weak capital scenario and principal loss absorption in part or full at the 'point of non-viability (PONY)' of a bank. About the company Mumbai based Bank of India (BoI) was founded in 1906 and nationalised in 1969. The bank is engaged in retail banking, corporate/wholesale banking, priority sector banking, treasury operations and other banking services. The bank operates through a network of 5510 domestic branches across India and 21 overseas branches across 14 countries along with 2 digital banking units as on June 30, 2026. Unsupported Rating Not Applicable Analytical Approach Acuite has adopted the standalone approach while assessing the business and financial risk profile of the Bank of India. The standalone approach, however, also duly factors in benefit from the ownership i.e. Government of India. In case of the ATI bond programme, the rating has been appropriately notched down as per the specific rating criteria for these instruments. Key Rating Drivers Strength Ownership and demonstrated capital benefit from the Government BoI remains one of the 12 public sector banks in India subsequent to the consolidation exercise undertaken by the Gol in FY19-20. The bank operates through an extensive network of 5510 branches spread across India and 21 overseas branches across 14 countries. As of June 30, 2026, the government held 73.38% stake in the bank and has demonstrated its proactive support to the bank through regular equity infusions, underlining the strategic importance of the bank in furthering the objective of financial inclusion. The Bank received capital support aggregating to Rs. 29,794 crore over FY17- FY21 (Rs. 2,838 crore in FY17, Rs. 9,232 crore in FY18, Rs. 14,724 crore in FY19 and Rs. 3,000 crore in FY2021) from GoI. Turnaround in financial performance and ability to raise capital via market route has further augmented the bank's capitalisation position. As on March 31, 2026, the bank reported CAR of 18.01% with Tier [Showing first 8,000 characters — download PDF for full document]