Bank of India falls 8.5%

Bank of India is currently among the top five losers on the BSE, dunking almost 8.5% to an intraday low at Rs.89.60 on the back of a 3x surge in volumes.

The Bank’s net profit rose 12% (YoY) at Rs.1151 crore while NII rose 64% to Rs.5596 crore. Other income was down 22% at Rs.1432 crore. Its provisions and contingencies rose 461% at Rs 1,878 crore.

In terms of asset quality, Gross NPA fell from 8.51% to 7.66% (QoQ) while Net NPA too reduced from 1.92% to 1.61%.

Bank’s RoA improved to 0.55% V/s 0.51% (YoY) v/s 0.47% (QoQ).

CASA deposits increased by 3.70% annually while CASA% stood at 44.56%.