BANK OF INDIA
Q2 FY 2011 RESULTS
BANK OF INDIA after a number of quarters, produced excellent results in Q2 FY 2011.
Interest on Advances at Rs.3659.79 cr – is up by 4.81% from previous Qtr and by 10.9% from corresponding Qtr of last year.
Income on Investments is Rs. 1307.15 Cr – up by 11% from previous Qtr and by 21.42% from corresponding Qtr.
Total Income is Rs.5740.05 Cr – up by 6.15% from previous Qtr and 11.13% from corresponding Qtr.
Operating Profit is Rs.1379.60 Cr – down by 2.119% from previous Qtr and up by 14.4% from corresponding Qtr.
Net Profit is Rs.616.78 Cr against Rs.725.13 cr in previous Qtr (down by14.94% - and compared to Rs.323.34 (a huge up by 90.75%) from corresponding Qtr.
Capital Adequacy Ratio is comfortable at 12.27.
Basic EPS is Rs.11.74 against Rs.13.81 in previous Qtr and Rs.6.16 in corresponding Qtr. 90.58
% of Gross/Net NPA is 1.14 against 1.18 in previous Qtr and 1.08 in corresponding Qtr.
Return on Assets is 0.87.
OTHER DETAILS :
Net interest income rose 26 per cent to Rs 1,776 crore from Rs 1,409 crore.
Net interest margin rose to 2.81 per cent in the quarter ended September 30, from 2.57 per cent a year earlier.
Net interest margin is expected to improve further to as much as 2.95 per cent in the year to March 2011.
The bank’s advances, which grew 22.4 per cent during the quarter to Rs 144,696 crore, are expected to grow at 19-20 per cent and deposits at 20 per cent for the year.
The bank’s provisioning coverage ratio rose to 70 per cent, the level mandated by the Reserve Bank of India, compared with 65.5 in March this year.
The bank said its CASA, or current account savings account, ratio rose to 33.48 per cent from 32.64 per cent in the previous quarter.
RESULTS IN FIGURES:
| BANK OF INDIA | 30-Sep-10 | 30-Jun-10 | DIF % 1 | 30-Sep-09 | DIF% 2 |
| Interest on Advances | 365979 | 349190 | 4.81 | 330021 | 10.9 |
| Income on Investments | 130715 | 117764 | 11 | 107652 | 21.42 |
| Income on Balances With RBI | 18838 | 14776 | 27.49 | 5313 | 254.56 |
| Others | 23 | 442 | -94.8 | 5913 | -99.61 |
| Interest Earned | 515555 | 482172 | 6.92 | 448899 | 14.85 |
| Other Income | 58450 | 58590 | -0.24 | 67597 | -13.53 |
| Total Income | 574005 | 540762 | 6.15 | 516496 | 11.13 |
| Interest Expended | 337950 | 308126 | 9.68 | 308009 | 9.72 |
| Employees Cost | 60308 | 57382 | 5.1 | 54479 | 10.7 |
| Other Operating Expenses | 37787 | 34198 | 10.49 | 33412 | 13.09 |
| Operating Expenses | 98095 | 91580 | 7.11 | 87891 | 11.61 |
| Operating Profit | 137960 | 141056 | -2.19 | 120596 | 14.4 |
| Provisions | 52736 | 38590 | 36.66 | 60213 | -12.42 |
| Tax Expense | 23546 | 29953 | -21.39 | 28049 | -16.05 |
| Net Profit | 61678 | 72513 | -14.94 | 32334 | 90.75 |
| Face Value (in Rs.) | 10 | 10 | 0 | 10 | 0 |
| Paid-up Equity Share Capital | 52591 | 52591 | 0 | 52591 | 0 |
| Capital Adequacy Ratio | 12.27 | 12.59 | -2.54 | 13.52 | -9.25 |
| Basic EPS | 11.74 | 13.81 | -14.99 | 6.16 | 90.58 |
| Gross/Net NPA | 207040 | 206123 | 0.44 | 160471 | 29.02 |
| % of Gross/Net NPA | 1.14 | 1.18 | -3.39 | 1.08 | 5.56 |
| Return on Assets | 0.87 | 1.05 | -17.14 | 0.55 | 58.18 |
| Public holding (%) | 35.53 | 35.53 | 0 | 35.53 | 0 |
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