Bank of India

The performance of the Bank was similar to that of Bank of Baroda – fall in profitability but improvement in asset quality. Gross NPA for Q4FY15 at 4.96% v/s 5.08% (QoQ) and Net NPA too improved from 2.95% to 2.71%.

But in terms of earnings, net profit declined 23% (YoY) at Rs.444 crore and Net Interest Income (NII) was at Rs.2121 crore, up by a small 3%. And like BoB, higher provisioning was the reason for the fall in bottomline. The Bank’s provisioning rose 10% (YoY) at Rs.1009 crore. The Bank ended the year with a 5% rise in net profit at Rs.1696 crore while total income was up from Rs.32,171 crore to Rs.35,607 crore.