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Bank Of India Source Name: Bank Of India

Bank of India Q2 FY15 Net rises 26%; Net Interest Income Grows 20%

Nov 03, 2014   18:35 IST 
Mumbai, Maharashtra, India

Bank of India announced a Net Profit of Rs. 786 crore (up 26%) for the quarter ended September 30, 2014, as compared to Rs. 622 crore in Q2 FY14. Non-Interest Income grew to Rs. 3,031 crore (up 20%) in Q2 FY15 from Rs. 2,527 crore in Q2 FY14. The Operating Profit grew to Rs. 2136 crore (up 2%) in Q2 FY15 from Rs. 2103 crore in Q2 FY14. Gross NPA Ratio stood at 3.54% in Q2FY15 as against 3.28% in Q2 FY14; Net NPA Ratio was 2.32% in Q2 FY15 as against 2.14% in Q2 FY14; Provision Coverage Ratio was 56.32% for Q2 FY15. Non-Interest Income stood at Rs.1,006 crore in September-14.

 

In terms of H1 FY15, Net Interest Income improves from Rs. 5,064 crore in September-13 to Rs.5,717 crore in September-14 (YoY Growth: 13%) Net Profit improves from Rs. 1,586 crore in September-13 to Rs. 1,592 crore in September-14 (YoY Growth: 0.38%). Operating Profit stood at Rs.4,196 crore in September-14. Non-Interest Income stood at Rs.2,031 crore in September-14.

 

Mrs. VR Iyer, Chairman & Managing Director, Bank of India, said, “Our focus will be on increasing Low Cost Deposits. We intend to scale up Retail and SME loans while seeking tactical channel improvement.  We want to reposition for improved engagement with customers. We intend to establish a robust & agile risk architecture.

 

As of September 30, 2014, Bank’s distribution network at 4808 Branches and 5747 ATMs, with increase of 158 Branches and 1522 ATMs over 4650 Branches and 4225 ATMs as of March 31st 2014.

 

CASA Deposits increased from Rs.95,828 crore in September-13 to Rs.105,467 crore in March-14 and to Rs.107,587 crore in Septermber-14. (2.01% over Mar-14 & YoY is 12.27%).  Savings Deposits increased from Rs.80,283 crore in September-13 to Rs.87,136 crore in March-14 and to Rs.89,162 crore in September-14 (2.33% over Mar-13 & YoY is 11.06%). Current Deposits increased from Rs.15,545 crore in September-13 to Rs.18,331  crore in March-14 and to Rs.18,424 crore in September-14 (0.51% over Mar-13 & YoY is 18.52%).

 

Global Business increased from Rs. 7,69,105 crore in September-13  to Rs. 8,53,202 crore in March 2014 and to Rs.9,17,720 crore in September-14. (7.56% over Mar’14 & YoY is 19.32%). Global Deposits increased from Rs. 4,32,282 crore in September-13 to Rs.476,974 crore in March-14 and to Rs. 5,18,432 crore in September-14. (8.69% over Mar-14 & YoY is 19.93%). Global Advances increased from Rs. 3,36,823 crore in September-13  to Rs. 376,228 crore in March-14 and to Rs.3,99,288 crore in September-14. (6.13% over Mar-13 & YoY is 18.55%).

 

Domestic Business increased from Rs. 5,55,007 crore in September-13 to Rs.6,27,850 crore in March-14 and to Rs. 656,923 crore in September-14. (4.63% over Mar-14 & YoY is 18.36%). Domestic Deposits increased from Rs. 3,22,193 crore in September-13 to Rs.3,63,590 crore in March-14 and to Rs.3,88,377 crore in September-14. (6.82% over Mar-14 & YoY is 20.54%). Domestic Advances increased from Rs. 2,32,815 crore in September-13  to Rs.2,64,260 crore in Mar-14 and to Rs.2,68,546 crore in September-14 (1.62% over Mar-13 & YoY is 15.35%).

 

International Business increased from Rs. 2,14,098 crore in September-13 to Rs.2,25,352 crore in March-14 and to Rs.2,60,797 crore in September-14. (15.73% over Mar-14 & YoY is 21.81%). International Deposits increased from Rs. 110,089 crore in September-13 to Rs.113,384 crore in March-14 and to Rs.130,055 crore in September-14. (14.70% over Mar-14 & YoY is 18.14%). International Advances increased from Rs. 104,009 crore in September-13 to Rs.111,968 crore in March-14 and to Rs.130,742 crore in September-14. (16.77% over Mar-14 & YoY is 25.70%).

 

Gross NPA ratio stood at 3.54% in September-14 as against 3.28% in Jun-14. Net NPA ratio stood at 2.32% in September-14  as against 2.14% in Jun-14. Provision Coverage Ratio stood at 56.32%.

 

Capital Adequacy Ratio of the Bank under Basel II is 11.50% as on September 30, 2014. Tier I CRAR is 8.02% as on September 30, 2014. Tier II CRAR is 3.48% as on September 30, 2014. Capital Adequacy Ratio of the Bank under Basel III is 10.97% as on September 30, 2014.

 

Global NIM improves from 2.29% in September-13 to 2.31% in September-14, Domestic NIM stood at 2.73% in September-14. Yield on Advances (Global) improved from 8.53 in September-13 to 8.60 in September-14 and Yield on Advances (Domestic) improved from 11.41 in September-13 to 11.49 in September-14. Return on Assets (ROA) improves from 0.48% in September-13 to 0.49% in September-14. Business per Employee increased from Rs.17.47 crore in September-13 to Rs.19.97 crore in September-14 and Business per Branch improved from Rs.170.61 crore in September-13 to Rs. 189.73 crore in September-14.

 

Click here for a detailed Results table

 

For further information:

Nikhil Mansukhani,

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(L-R) Mr. Anant Upadhyay, General Manager and CFO, Mr. Arun Srivastava, Executive Director , Mrs. V. R. Iyer, Chairperson & Managing Director, Mr. B. P. Sharma, Executive Director, Mr. R. Koteeswaran, Executive Director
(L-R) Mr. Anant Upadhyay, General Manager and CFO, Mr. Arun Srivastava, Executive Director , Mrs. V. R. Iyer, Chairperson & Managing Director, Mr. B. P. Sharma, Executive Director, Mr. R. Koteeswaran, Executive Director
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