Operating profit (before provisions and contingencies) declined 14.98% YoY to Rs 3,557.16 crore in Q4 FY24. Total provisions and contingencies (other than tax) slipped 10.95% YoY to Rs 1,825.96 crore in March 2024 quarter.

Profit before tax in fourth quarter of FY24 stood at Rs 1,731.20 crore, down 18.84% on YoY basis.

The bank's gross non-performing assets (NPAs) slipped to Rs 29,182.77 crore as on 31 March 2024 as against Rs 37,685.56 crore as on 31 March 2023.

The ratio of gross NPAs was 4.98% as on 31 March 2024 as against 7.31% as of 31 March 2023. The ratio of net NPAs was 1.22% as on 31 March 2024 as compared with 1.66% as on 31 March 2023.

Provision Coverage Ratio (PCR) stood at 90.59% as on 31 March 2024 as against 89.68% as on 31 March 2023.

Slippage ratio improved to 1.58% as of March 2024 as against 1.94% as against the same period a year ago.

The bank's deposits (domestic) increased by 11.05% YoY to Rs 6,29,717 crore and advances (domestic) rose by 14.08% YoY to Rs 4,92,392 crore as on 31 March 2024.

The bank's CASA (domestic) rose by 7.03% YoY to Rs 2,69,872 crore while CASA Ratio stood at 43.21% as of March 2024.

Cost of deposits (global) stood at 4.71% in Q4 FY24 as compared to Rs 3.91% in Q4 FY23.

As on March 2024, the bank's total capital adequacy ratio (CRAR) was at 16.96% while CET -1 ratio stood at 14.24%.

Return on assets (RoA) stood at 0.61% in Q4 FY24 against 0.63% in Q4 FY23. Return on equity (RoE) was at 10.57% in Q4 FY24 against 13.52% in Q4 FY23.

Meanwhile, the board recommended a dividend of Rs 2.80 per equity share for the FY2023-24, subject to approval of shareholders

Further, the board approved capital raising upto Rs 5,000 crore by issue of Basel III compliant additional Tier 1 and Tier 2 bonds of Rs 2,500 crore each.

Bank of India is a public sector bank. The Government of India held 73.38% stake in the bank as on 31 March 2024.

The scrip shed 0.11% to settle at Rs 138.85 on Friday, 10 May 2024.