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Bank of India announced Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
- Net Profit for the quarter improved by 7% YoY and stood at Rs 1,439 crore for Q4FY24 against Rs 1,350 crore in Q4FY23.
- Operating Profit stood at Rs 3,557 crore for Q4FY24 against Rs 4,184 crore in Q4FY23.
- Net Interest Income (NII) increased by 7% YoY and stood at Rs 5,937 crore for Q4FY24 against Rs 5,523 crore for Q4FY23.
- Non-Interest Income stood at to Rs 1,751 crore for Q4FY24 against Rs 3,099 crore in Q4FY23.
- NIM (Global) stood at 2.92% in Q4FY24 against 3.15% in Q4FY23 and 2.85% in Q3FY24.
- NIM (Domestic) stood at 3.30% in Q4FY24 against 3.59% in Q4FY23 and 3.21% in Q3FY24.
- Return on Assets (Global) stood at 0.61% in Q4FY24 against 0.63% in Q4FY23.
- Cost to Income ratio (Global) stood at 53.73% in Q4FY24 against 51.48% in Q4FY23.
- Yield on Advances (Global) improved by 52 bps YoY to 8.47% in Q4FY24 against 7.95% in Q4FY23.
- Cost of Deposits (Global) stood at 4.71% in Q4FY24 against 3.91% in Q4FY23
FY24 Financial Highlights:
- Net Profit increased by 57% YoY and stood at Rs 6,318 crore for FY24 against Rs 4,023 crore in FY23.
- Operating Profit improved by 5.05% YoY and stood at Rs 14,069 crore for FY24 against Rs 13,393 crore in FY23.
- Net Interest Income (NII) increased by 14% YoY and stood at Rs 23,053 crore for FY24 against Rs 20,275 crore in FY23.
- Non-Interest Income stood at Rs 6,095 crore for FY24 against Rs 7,100 crore in FY23.
- NIM (Global) stood at 2.97% in FY24 against 3.01% in FY23.
- NIM (Domestic) stood at 3.34% in FY24 against 3.43% in FY23.
- Return on Assets (RoA) improved by 21 bps YoY to 0.70% in FY24 against 0.49% in FY23.
- Return on Equity (RoE) improved by 282 bps YoY to 13.13% in FY24, against 10.31% in FY23.
- Cost to Income ratio (Global) stood at 51.73% in FY24 against 5.1.08% in FY23.
- Slippage Ratio stood at 1.58% in FY24 against 1.94% in FY23
- Credit Cost stood at 0.78% in FY24 against 0.79% in FY23.
- Yield on Advances (Global) improved by 101 bps to 8.38% in FY24 against 7.37% in FY23.
- Cost of Deposits (Global) stood at 4.51% in FY24 against 3.67% in FY23.
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