Bank of India Q3 Net Profit at Rs.406 Cr, 25% higher than sequential profit Q2 FY10
Mumbai, January 28, 2010:
Business Mix reaches Rs.362,954 Cr - robust rise of 17.91% YoY.
Operating Profit at Rs. 1130 Cr.
Net Interest Margin at 2.60%.
Non Interest Income at Rs.572 Cr .
Gross NPA ratio at 2.67% .
Net NPA contained at 1.03% as against 1.08% in Q2 FY 09-10 .
Cost to Income Ratio is at 45.33%.
Return on Assets is at 0.66% . Improved sequentially.
Total Income for the Quarter is at Rs.5058 Cr
Bank has made adequate provisions for terminal benefits, in line with AS 15 requirements. Rs. 105.77Cr estimated and provided during the quarter.
Earnings per share at Rs.7.72 ( not annualised).
Book value per share rises from Rs. 205.83 in Dec’08 to Rs.236.86 in Dec’09.
Net Profit at Rs.406 Cr, 25% higher than sequential profit Q2 FY 09-10.
Improved Net Interest Income at Rs.1495Cr compared to
Rs. 1,409 Cr Q2 FY 09-10 – 6.10% rise.
Enhanced Provision coverage at 69.90%. Rise of 2.65% on comparable basis sequentially.
Significant increase in CASA share. 2% increase over March 2009. Stands at 33% now (Rs. 56714 Cr) and concerted efforts bearing fruits.
Capital Adequacy Ratio at a healthy level of 13.64 % in Dec’09 from 13.39% in Dec’08 as per Basel II .
Deposits grew by 20 % on YoY basis to Rs.2,06,001 Cr.
Advances rose by 15% to reach Rs.1,56,953 crores.
Total no of branches are 3140.
All branches are functioning on CBS platform, spanning over 1920 cities & towns.
Networth of the Bank improves from Rs.10825 crores to Rs.12457 crores YoY.
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(This is a press release from Bank of India)