Bank of India - Q3FY13 Result First-Cut - Microsec

Bank of India Ltd has announced its Q3FY13 result on 28th January 2013.

The bank's total income increased by 5.03% QoQ and 11.16% YoY to INR3245.62 crores, driven by YoY growth in its Net Interest Income (NII) and Other Income by 11.65% and 9.97% respectively. Whereas, Profit After Tax (PAT) increased by 166.19% QoQ and 12.19% YoY to INR803.48 crores. During the quarter, bank has decreased its Provisions by 41% QoQ to INR915.78 crores, which has boosted its bottom line.

Bank's loans book and total deposits expanded by 20.03% and 13.63% YoY to INR276486.36 and INR349117.09 crores respectively. On the asset quality front, the bank's has improved its asset quality. GNPA and NNPA decreased by 34 and 7bps QoQ to 3.08% and 1.97% respectively. Moreover, bank's low cost deposits portfolio (CASA) also improved by 107bps QoQ and 143bps YoY to 33.84%. On the margin front, Net Interest Margin (NIM) improved by 8bps QoQ while, decreased by 5bps YoY to 2.50%. Capital Adequacy Ratio (CAR) stood at 10.59%, which is 1.59% higher than the regulator stipulated norm.

Source : Equity Bulls

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