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Bank of India stock rallies after Q2 PAT doubles to Rs1,051cr on higher interest income

Net Interest Income (NII) stood at Rs3,523cr for Q2FY22. On a sequential basis, it increased by 12.06% from Rs3,144cr in Q1FY22.

November 03, 2021 2:14 IST | India Infoline News Service
Bank of India
State-owned Bank of India posted a net profit of Rs1,051cr in the quarter ending September 2021 (Q2FY22), registering a whopping 99.89% growth from Rs526cr of Q2FY21. On a sequential basis, net profit improved by 45.97% from Rs720cr.

Net Interest Income (NII) stood at Rs3,523cr for Q2FY22. On a sequential basis, it increased by 12.06% from Rs3,144cr in Q1FY22. NIM (Global) stood at 2.42% in Q2FY22. It improved by 26 bps on a sequential basis from 2.16% in Q1FY22.

Key highlights of the Q2 earnings are:
  • Yield on Advances at 7.01%, increased by 34 bps sequentially.
  • Gross NPA ratio at 12%, down by 151 bps sequentially.
  • Net NPA ratio at 2.79% down by 56 bps sequentially.
  • Provision Coverage Ratio (PCR) at 87.81%.
  • CRAR stood at 17.05% higher than both Mar’21 and Jun’21.
  • RAM Advances grew by 10.45% YoY and it constitutes 53.65% of Advances.
  • CASA deposits increased by 12.31% YoY and CASA% at 43.11%.
  • Credit Cost stood at 0.26%, declined by 207 bps YoY.
  • Slippage ratio stood at 0.36%, declined by 75 bps sequentially.
At around 2.11 pm, Bank of India was trading at Rs63.25 per piece up 1.2% on Sensex. 

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