BANK OF INDIA ANNOUNCES FINANCIAL RESULTS FOR

 BANK OF INDIA ANNOUNCES FINANCIAL RESULTS FOR Q2 - FY 2020-21

 

·         Bank registered a Net Profit of Rs.526 Crores in Q2FY21, an increase of 97.74% over Q2FY20. ·         Operating Profit increased to Rs.3,098 Crores in Q2FY21 from Rs.2,460 Crores in Q2FY20, an increase of 25.93% YoY. ·         Non-Interest Income for Q2FY21 at Rs.1,613 Crores is up by 21.55% over Q2FY20. The non-interest income was bolstered by growth in Treasury income. ·         Net Interest Income of the Bank stood Rs.4,113 Crores in Q2FY21 against Rs.3,860 Crores in Q2FY20. ·         Global Net Interest Margin (NIM) during Q2FY21 stood at 2.66% and domestic Net Interest Margin stood at 2.88% compared with 2.99% and 3.36% during Q2FY20. ·         Cost-to-income Ratio (global) improved to 45.91% YoY as against 52.58% in Q2FY20. ·         Cost of Deposits (global) improved both YoY and sequentially. From 4.62% in Q2FY20 and  4.32 % in Q1FY21 the ratio improved to 4.17% in Q2FY21. ·         Global Business increased by 13.45% to Rs.10,15,400 Crores, out of which Global Deposits increased by 17.28% YoY and Global Advances increased 8.19% YoY. ·         Home loan, which constitutes 59.15 % of Bank’s domestic retail credit, went up by 12.23% YoY. ·         Domestic CASA deposits recorded a growth of 13.02% with CASA share at 39.49% in Q2FY21.  ·         Priority Sector advances constitutes 43.96% of ANBC in Q2FY21, above the regulatory requirement. ·         The Risk Weighted Assets declined sequentially by 2.67% and 1.93% YoY. ·           ·         Net NPA ratio at 2.89% is down by 298 bps YoY and 69 bps QoQ. Gross NPA ratio at 13.79% is down by 252 bps YoY and 12 bps QoQ. ·         Provision Coverage Ratio (PCR) has improved to 87.91%, up 1079 bps YoY and 304 bps QoQ. ·         Capital Adequacy Ratio (CAR) as per Basel-III stood at 12.80% in Q2FY21. ·         Global Return on Assets (RoA) increased by 12 bps YoY to 0.28% in Q2FY21 against 0.16% in Q2FY20.

 

Key Parameters Q2FY21 Results

 

         (In Rs Crore)

Particulars	Q2FY20	Q1FY21	Q2FY21	YoY %	QoQ %	H1FY20	H1FY21	YoY %
Interest Income	10,658	10,234	10,796	1.29	5.49	20,990	21,030	0.19
Interest Expenses	6,798	6,753	6,682	-1.71	-1.05	13,644	13,435	-1.53
Net Interest Income(NII)	3,860	3,481	4,113	6.55	18.16	7,346	7,594	3.38
Non- Interest Income	1,327	1,707	1,613	21.55	-5.51	2,522	3,320	31.64
Operating Income (NII+Other Income)	5,187	5,188	5,726	10.39	10.37	9,868	10,914	10.60
Operating Expenses	2,728	2,344	2,629	-3.63	12.16	5,137	4,973	-3.19
Operating Profit	2,460	2,845	3,098	25.93	8.89	4,731	5,942	25.60
Profit before tax	407	1,333	785	92.87	-41.06	767	2,118	176.14
Provision for NPA	1,452	767	2,134	46.97	178.23	3,325	2,900	-12.78
Net Profit	266	844	526	97.74	-37.68	509	1,369	168.96
NIM %(Domestic)	3.36	2.73	2.88			3.19	2.81

 

 

Particulars	Sep-19	Jun-20	Sep-20	YoY %	QoQ %
Global Deposits	5,18,037	5,95,235	6,07,529	17.28	2.07
Domestic CASA	1,83,397	2,07,370	2,07,280	13.02	-0.04
Domestic deposits	4,36,530	5,17,577	5,32,095	21.89	2.80
Global advances	3,76,993	4,15,440	4,07,871	8.19	-1.82
Domestic advances	3,21,642	3,59,715	3,62,666	12.75	0.82
Gross NPA	61,476	57,788	56,232	-8.53	-2.69
Net NPA	19,646	13,275	10,444	-46.84	-21.33

 

Particulars (Ratios, %)	Sep-19	Jun-20	Sep-20	YoY bps	QoQ bps
Asset Quality
Gross NPA	16.31	13.91	13.79	-252	-12
Net NPA	5.87	3.58	2.89	-298	-69
Provision Coverage Ratio (PCR)	77.12	84.87	87.91	1079	304
Capital Ratios
Tier-1	11.06	9.48	9.67	-139	19
CET-1	11.00	9.46	9.67	-133	21
CRAR	14.09	12.76	12.80	-129	4