Bank of India total income for the 2nd Quarter FY10 shows a growth of 11.99%

Mumbai, 29th October, 2009:


Business Mix reaches Rs.348953 crores - robust rise of 18.87 % .

Net Profit at Rs.323 Cr.

Operating Profit at Rs. 1206 Cr.

Net Interest Income rises by 3.37% to Rs.1409Cr from Rs.1363 Cr YoY.

Net Interest Margin at 2.57%.

Non Interest Income rises by 4% from Rs.650 Cr to Rs.676 Cr YoY.

Gross NPA ratio at 2.61% .

Net NPA ratio at 1.08% .

Provision coverage stands at 59.06%.

Cost to Income Ratio is at 42.16%.

Return on Assets is at 0.55% .

Total Income for the Quarter rose to Rs.5165 Cr from Rs.4612 Cr in Sep’08, showing a growth of 11.99%.

Bank has made adequate provisions for terminal benefits, in line with AS 15 requirements. Rs. 105.75Cr estimated and provided during the quarter.

CASA amounted to Rs. 52766 Cr constituting 32% of Total Deposits as against 31% in March’09.

Earnings per share at 6.16.

Book value per share rises from Rs. 189.24 in Sep’08 to Rs.229.15.

Capital Adequacy Ratio rises to 13.52% in Sep’09 from 12.26 %as per Basel II .

Deposits grew by 20.99% on YoY basis to Rs.1,98,715 Cr.

Advances rose by 16.18% to reach Rs.1,50,238 crores.

Total no of branches are 3097.

All branches are functioning on CBS platform, spanning over 1920 cities & towns.

Networth of the Bank is at Rs.12051 crores.

Other Highlights

Bank of India has been rated by Economic Times /The Nielsen company survey

“The Most Trusted Brands “ (MTB) 2009 as follows:

Under PSU Banking Category –2nd Next TO SBI

NDTV Profit Business Leadership Awards 2009

Bank of India adjudged the “Best Bank” in public sector bank category.

(This is a press release from Bank of India)