Operating profit (before provisions and contingencies) declined 17.74% YoY to Rs 3,003.94 crore in Q3 FY24. Total provisions and contingencies (other than tax) dropped 73.33% to Rs 501.11 crore in Q3 FY24 as against Rs 1,878.98 crore in Q3 FY23.

Profit before tax in Q3 FY24 stood at Rs 2,502.83 crore, up 41.17% on YoY basis.

The bank's gross non-performing assets (NPAs) slipped to Rs 30,237.15 crore as on 31 December 2023 as against Rs 38,884.61 crore as on 31 December 2022.

The ratio of gross NPAs was 5.35% as on 31 December 2023 as against 7.66% as of 31 December 2022. The ratio of net NPAs was 1.41% as on 31 December 2023 as compared with 1.61% as on 31 December 2022.

Provision Coverage Ratio (PCR) stood at 89.95% as on 31 December 2023 as against 90.27% as on 31 December 2022.

Slippage ratio improved to 0.24% in Q3 FY24 as against 0.27% in Q3 FY23.

While bank's deposits (domestic) increased by 7.62% YoY to Rs 5,99,137 crore, advances (domestic) jumped by 11.34 % YoY to Rs 4,75,012 crore as on 31 December 2023.

The bank's CASA (domestic) rose by 5.92% YoY to Rs 2,61,335 crore while CASA Ratio stood at 44.56% as of December 2023.

Cost of deposits (global) stood at 4.62% in Q3 FY24 as compared to Rs 3.72% in Q3 FY23.

As on 31 December 2023, the bank's total capital adequacy ratio (CRAR) was at 16.06% while CET -1 ratio stood at 13.16%.

Return on assets (RoA) improved by 17 bps to 0.82% in Q3 FY24 against 0.55% in Q3 FY23.

Return on equity (RoE) improved by 275 bps to 14.96% in Q1 FY24 against 12.21% in Q1 FY23.

Bank of India is a public sector bank. The Government of India held 73.38% stake in the bank as on 31 December 2023.

The scrip rose 4.26% to settle at Rs 151.60 on Friday, 2 February 2024.

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