Bank of India Ltd has announced its Q3FY13 result on 28th January 2013.
The bank’s total income increased by 5.03% QoQ and 11.16% YoY to INR3245.62 crores, driven by YoY growth in its Net Interest Income (NII) and Other Income by 11.65% and 9.97% respectively. Whereas, Profit After Tax (PAT) increased by 166.19% QoQ and 12.19% YoY to INR803.48 crores. During the quarter,bank has decreased its Provisions by 41% QoQ to INR915.78 crores, which has boosted its bottom line.
Bank's loans book and total deposits expanded by 20.03% and 13.63% YoY to INR276486.36 and INR349117.09 crores respectively. On the asset quality front, the bank’s has improved its asset quality. GNPA and NNPA decreased by 34 and 7bps QoQ to 3.08% and 1.97% respectively. Moreover, bank’s low cost deposits portfolio (CASA) also improved by 107bps QoQ and 143bps YoY to 33.84%. On the margin front, Net Interest Margin (NIM) improved by 8bps QoQ while, decreased by 5bps YoY to 2.50%. Capital Adequacy Ratio (CAR) stood at 10.59%, which is 1.59% higher than the regulator stipulated norm.
Q3’13 (INR Crores)
|
Consensus
|
Actual
|
Variance %
|
Total Income
|
2571.2
|
3245.62
|
26.23%
|
PAT
|
603.5
|
803.48
|
33.14%
|
DESCRIPTION
|
Q3'13
|
Q2'13
|
Q3'12
|
QoQ%
|
YoY%
|
Interest Earned
|
8022.69
|
8005.46
|
7150.12
|
0.22
|
12.20
|
Interest Expended
|
5714.21
|
5809.50
|
5082.57
|
-1.64
|
12.43
|
NII
|
2308.48
|
2195.96
|
2067.55
|
5.12
|
11.65
|
Other Income
|
937.14
|
894.09
|
852.15
|
4.81
|
9.97
|
Total Income
|
3245.62
|
3090.05
|
2919.70
|
5.03
|
11.16
|
Operating Expenses
|
1389.83
|
1235.99
|
1187.81
|
12.45
|
17.01
|
Operating Profit before Prov.& Cont.
|
1855.79
|
1854.06
|
1731.89
|
0.09
|
7.15
|
Provisions and Contingencies
|
915.78
|
1552.11
|
693.07
|
-41.00
|
32.13
|
PBT
|
940.01
|
301.95
|
1038.82
|
211.31
|
-9.51
|
Tax
|
136.53
|
0.10
|
322.67
|
136430.00
|
-57.69
|
Profit After Tax
|
803.48
|
301.85
|
716.15
|
166.19
|
12.19
|
Adj Calculated EPS
|
14.00
|
5.26
|
12.46
|
166.16
|
12.36
|
Advances
|
276486.36
|
256147.90
|
230354.64
|
7.94
|
20.03
|
Deposits
|
349117.09
|
332694.67
|
307252.24
|
4.94
|
13.63
|
Q3'13
|
Q2'13
|
Q3'12
|
QoQ (bps)
|
YoY(bps)
| |
Capital Adequacy Ratio Basel II
|
10.59%
|
11.10%
|
11.18%
|
-51
|
-59
|
% of Net NPAs
|
1.97%
|
2.04%
|
1.78%
|
-7
|
19
|
% of Gross NPAs
|
3.08%
|
3.42%
|
2.74%
|
-34
|
34
|
CASA%
|
33.84%
|
32.77%
|
32.41%
|
107
|
143
|
NIM %
|
2.50%
|
2.42%
|
2.55%
|
8
|
-5
|
C/D ratio
|
79.20%
|
76.99%
|
74.97%
|
220
|
422
|
C/I Ratio
|
42.82%
|
40.00%
|
40.68%
|
282
|
214
|
OI/TI
|
57.18%
|
60.00%
|
59.32%
|
-282
|
-214
|
Regards,
Team Microsec Research
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