> ## Content Index > Fetch the complete content index at: https://www.moatmarginresearch.com/llms.txt > Use this file to discover other available public pages before exploring further. # Bank of India Moat Analysis: Score & Risks - URL: https://www.moatmarginresearch.com/bank-of-india-moat/ - Published: 2026-08-02T13:14:24.000Z - Updated: 2026-08-22T05:14:22.000Z - Author: A K Karthikeyan - Tags: First-pass note, Coverage Moat Note · First-pass ## Bank of India A first-pass moat teardown of Bank of India, built from single-pass filing evidence. Free note — provisional, and the full two-pass deep dive may revise it. **Moat & Margin**2 Aug 2026 First-pass · \~4 min 4.54 / 10 NARROWRegulated-scale First-pass narrow read — primary edge in Switching Costs. Provisional, single-pass evidence. Provisional score · subject to modification based on new evidence Bank of India scores **4.54** on MoatSCORE 6.0 — a narrow moat in Banks. This is a **first-pass note**: the dimensional read and the filing receipts below come from a single GFIP evidence pass, not the full two-pass deep corpus behind our flagship deep dives. Provisional — published free while the deep version is queued. The teardown ## Seven dimensions of moat Ordered by contribution. Each dimension carries a verified filing quote, graded **\[M\]** mechanism or **\[O\]** outcome. D2Switching Costs5.5 M · Mechanism✓ Verified verbatim “the question is also because there is sharp movement of between the SMAs for us because of the PSUs, but we have to take that credit cost because now in the ECL it's required in stage two” **Bank of India** · Earnings Call · p.16 D5Intangible Assets5.5 M · Mechanism✓ Verified verbatim “It also considers the sovereign ownership and the demonstrated track record of capital support from the Government of India (GoI), which is expected to be forthcoming if required.” **Bank of India** · Credit Rating D1Network Effects5.2 M · Mechanism✓ Verified verbatim “we are very cognizant that majority of that advances raising will be happening through the raising of deposits, which is through our 5,500 branches” **Bank of India** · Earnings Call · p.9 D4Price Discretion5 M · Mechanism✓ Verified verbatim “In the individual Gig side, volume wise, it will be very, very small. We are not expecting much big number. But on SMEs especially on Sakti side, close to Rs.500 to Rs.1,000 crore kind of book we are looking for.” **Bank of India** · Earnings Call · p.11 D3Cost Advantage4.8 M · Mechanism✓ Verified verbatim “we have been able to shed some of the very low yielding advances and got it replaced with certain advances of AA and other categories whichever giving 20-30-40 basis point higher” **Bank of India** · Earnings Call · p.13 D6Efficient Scale4.8 O · Outcome✓ Verified verbatim “The ratings reflect BoI’s systemic importance, which is driven by an increase in the bank’s market share in net advances, along with a stable market share in its deposits” **Bank of India** · Credit Rating 5 quotes extracted here — not one mechanism-class. The evidence is outcome-only. D7Counter-PositioningExcluded— Excluded for this archetype. D8Ungoverned RiskUnscored · Layer 2.5 D8 rating: **ADEQUATE**. Not part of the moat score — it governs the cost of equity and the fade window. First-pass; not yet deep-reviewed. The barrier gate ## The barrier gate — first-pass Replication — can a rival copy it?6.0 How hard it is for a rival to copy the edge (first-pass estimate). Bypass — can a rival route around it?5.5 How easily a rival can route around the edge (first-pass estimate). Effective barrier 5.5 — below 6, so the band is capped narrow. First-pass estimate. What would change our mind 1. **Deep two-pass review.** This draft rests on a single GFIP evidence pass; the full 10-year AR + concall corpus may move the read. 2. **The barrier gate.** A firmer replication or bypass estimate is the most likely thing to shift the band. 3. **Adverse events.** Any governance, regulatory or funding shock captured in D8 could re-rate the fade window. First-pass note — provisional single-pass MoatSCORE 6.0 read, not the full deep dive. Educational research, not investment advice; no buy/sell recommendation, no price target. Moat & Margin is not a SEBI-registered Research Analyst or Investment Adviser. **Where this note fits.** This company is one of **113 Indian companies** we have scored for moat durability — 88 narrow, 25 narrow-trending-wide, none wide. The full ranked read: [Wide-Moat Stocks in India: We Scored 113 Companies and Found None](https://www.moatmarginresearch.com/wide-moat-stocks-india/). Every score, dimension by dimension, is free in the [Moat Screener](https://www.moatmarginresearch.com/moat-screener/).