Bank of India (BoI) has reported a 214 per cent jump in its net profit at Rs 283 crore in the fourth quarter ended March 31, 2003 against Rs 90 crore in the corresponding quarter last fiscal.
For the year ended March 31, 2003, the bank has reported a 68.5 per cent rise in net profit at Rs 851 crore against Rs 505 crore in the previous year.
In the reporting quarter interest earned increased by 8 per cent to Rs 1557.39 crore (Rs 1439.43 crore in Q4 of 2001-02) and other income was up by 41 per cent to Rs 597.92 crore (Rs 422.83 crore).
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Interest expended was at Rs 995.35 crore (Rs 987.56 crore) and operating expenses was at Rs 440.72 crore (Rs 427.31 crore).
Other provisions and contingencies in Q4 was at Rs 332.09 crore as against Rs 308.12 crore in the corresponding quarter last year. The board has proposed a dividend of 30 per cent against 25 per cent last year.
Total income in FY03 increased by 13 per cent to Rs 7,570.59 crore against Rs 6,711.95 crore in previous year and total expenditure edged up by 4.5 per cent to Rs 5540.50 crore (Rs 5299.89 crore).
Global deposits touched level of Rs 64,454 crore, a growth of 8.16 per cent. Domestic deposits grew by Rs 4,794 crore to reach Rs 54,030 crore.
Global advances (gross) went up by 9.68 per cent to reach Rs 44,491 crore. Domestic advances increased by 8 per cent at Rs 33,013 crore, while foreign advances registered a 14.79 per cent rise at Rs 11,478 crore.