Bank of India

Bank of India (BoI) managed to bring down its YoY losses but its asset quality did not perk up and that did not go down too well with the markets, which beat down the stock price into deep red yesterday.

The Bank posted a net loss of Rs.1045 crore in Q4FY17 v/s loss of Rs.3587 crore in previous Q4. But the negative uptake here – in Q3Fy17, the sequential quarter, the Bank had actually posted a net profit of Rs.102 crore. Thus it is back into the red in Q4.

In terms of asset quality, Gross NPA  fell from 12.38% to 13.22% (QoQ) but YoY, it was up from 13.07%. Net NPA, on the other hand, was much better; it was at 6.90% v/s 7.09% (QoQ) v/s 7.79% (YoY).

QoQ provisions more than doubled up from Rs.2302 crore to Rs.4736 crore. Slippages also doubled up to Rs.6915 crore from Rs.3210 crore.