Bank of India - Q4FY12 Result First cut - Microsec Research

Bank of India has announced its Q4FY12 along with Annual FY12 result on 30th April 2012.

On the quarterly basis, the bank's total income grew by 18.78% QoQ and 10.79% YoY to INR3468.14 crores mainly, because of growth in Net Interest Income (NII) by 20.97% sequentially to INR2501.03 crores. Profit After Tax (PAT) increased by 33.03% QoQ and 93% YoY to INR952.73 crores mainly, because of decline in bank's operating expenses by 24.50% YoY to INR1453.54 crores. For the whole year of FY12, the bank's total income increased by 11.31% YoY to INR11634.61 crores while, Profit After Tax (PAT) increased by 7.59% YoY to INR2677.52 crores.

On the assets quality front, the bank has improved its NNPA and GNPA in this quarter by 31bps and 40bps QoQ to 1.47% and 2.34% respectively. Moreover, the bank has also improved its Net Interest Margin (NIM) by 31bps QoQ to 2.86%. Capital Adequacy Ratio (CAR) of the bank stood at 11.95% while, CASA stood at 29.19%.

The Board of Directors have recommended a dividend of 70% i.e. Rs.7 per equity share for the financial year 2011-12.

Source : Equity Bulls

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