Bank of India rose 2.62% to Rs 82.30 after the public sector bank reported a net profit of Rs 250.19 crore in Q4 FY21 as against a net loss of Rs 3,571.41 crore in Q4 FY20.
The bank's total income fell 6.84% to Rs 11,379.84 crore in Q4 FY21 over Q4 FY20. The bank's operating profit (before provisions & contingencies) decreased 21% to Rs 2,094.37 in Q4 FY21 over Q4 FY20.The public sector bank posted a profit before tax of Rs 263.33 crore in Q4 FY21 compared with pre tax loss of Rs 5,489.36 crore in Q4 FY20. The bank's net interest income stood at Rs 2936 crore, down 22.59% over Rs 3,793 crore in Q4 FY20.
The bank's provisions & contingencies for Q4 FY21 stood at Rs 1,831.04 crore, declining 77.5% from Rs 8,141.92 crore in Q4 FY20. The bank's provision coverage ratio stood at 86.24% as of 31 March 2021 compared to 83.74% on 31 March 2020.
On the asset quality side, gross non-performing assets (NPAs) stood at Rs 56,534.95 crore as on 31 March 2021 as against Rs 54,997.03 crore as on 31 December 2020 and Rs 61,549.93 crore as on 31 March 2020.
The gross NPA ratio stood at 13.77% as on 31 March 2021, compared to 13.25% on 31 December 2020 and 14.78% as of 31 March 2020. The net NPA ratio stood at 3.35% as on 31 March 2021 from 2.46% as on 31 December 2020 and 3.88% as on 31 March 2020.
The PSU Bank posted a net profit of Rs 2,160.30 crore for the year ended March 2021 (FY21) compared with net loss of Rs 2,956.89 crore in the year ended March 2020 (FY20). Total income fell 2.09% to Rs 48,040.93 crore in FY21 over FY20.
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Bank of India is a public sector bank. The Government of India held 89.10% stake in Bank of India as on 31 March 2021.
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