Bank of India more than doubles Q2 net profit
2 Nov 2013 4:42 AM IST
Bank of India net profit more than doubled for Q2 ended 30 September, 2013 at Rs 622 crore, which was Rs 302 crore in the same period of the last fiscal. Operating profit improved by 13.43 per cent from Rs 1,854 crore in September 2012 to Rs 2,103 crore in September of 2013.
Net interest income improved by 15.07 per cent from Rs 2,196 crore in September quarter to Rs 2,527 Crore in the same quarter of last fiscal year. Non-interest income improved by 23.04 per cent from Rs 894 crore in Q2 to Rs 1,100 crore in the last fiscal, while gross NPA ratio stood at 2.93 per cent; net NPA ratio was at 1.85 per cent and provision coverage ratio remained at 63.29 per cent for Q2.
Bank of India CMD V R Iyer emphasised CASA growth and expansion of SME, retail and rural business, besides focusing on credit monitoring and recovery in NPA, inclusive growth through financial inclusion. The bank’s total income rose to Rs 20,061.56 crore in the first six months, from Rs 17,499.58 crore in the year-ago period.
Its global business increased by 13.78 per cent from Rs 5,93,073 crore in the second quarter of the previous fiscal (2012-13) to Rs 6,74,808 crore in March 2013 and to Rs 7,69,105 crore in September-13 (13.97 per cent over March 2013 & YoY is 29.68 per cent).
Global deposits increased from Rs. 3,32,694 crore in September-12 to Rs.381840 crore in March-13 (14.77 per cent) and to Rs.4,32,282 crore in September-13 (13.21 per cent over March-13 & YoY is 29.93 per cent).
Net interest income improved by 15.07 per cent from Rs 2,196 crore in September quarter to Rs 2,527 Crore in the same quarter of last fiscal year. Non-interest income improved by 23.04 per cent from Rs 894 crore in Q2 to Rs 1,100 crore in the last fiscal, while gross NPA ratio stood at 2.93 per cent; net NPA ratio was at 1.85 per cent and provision coverage ratio remained at 63.29 per cent for Q2.
Bank of India CMD V R Iyer emphasised CASA growth and expansion of SME, retail and rural business, besides focusing on credit monitoring and recovery in NPA, inclusive growth through financial inclusion. The bank’s total income rose to Rs 20,061.56 crore in the first six months, from Rs 17,499.58 crore in the year-ago period.
Its global business increased by 13.78 per cent from Rs 5,93,073 crore in the second quarter of the previous fiscal (2012-13) to Rs 6,74,808 crore in March 2013 and to Rs 7,69,105 crore in September-13 (13.97 per cent over March 2013 & YoY is 29.68 per cent).
Global deposits increased from Rs. 3,32,694 crore in September-12 to Rs.381840 crore in March-13 (14.77 per cent) and to Rs.4,32,282 crore in September-13 (13.21 per cent over March-13 & YoY is 29.93 per cent).
Next Story
