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Standalone total income stood at Rs 11,443.46 crore for the quarter ended 31 March 2022 as against Rs 11,155.53 crore during the same period in the previous year, registering a growth of 2.6%. Profit before tax stood sharply higher at Rs 925.05 crore in Q4 FY22 as compared to Rs 263.33 crore in Q4 FY21.
Net interest income jumped 35.7% to Rs 3,986 crore in Q4 FY22 from Rs 2,936 crore registered in the corresponding quarter last year. Net interest margin improved to 2.58% in Q4 FY22 from 2.27% in Q3 FY22 and 2.01% in Q4 FY21.
Operating Profit before provision and contingencies grew nearly 32% year on year to Rs 2465 crore in Q4 FY22 from Rs 1870 crore posted in Q4 FY21. Provisions (other tax) and contingencies slipped 4.1% year on year to Rs 1,540.61 crore in Q4 FY22 over Q4 FY21. Provision Coverage Ratio (PCR) stood at 86.24% as on 31 March 2022 against 86.24% as on 31 March 2021.
On the asset quality front, the bank's gross non-performing assets (NPAs) stood at Rs 45,605.40 crore as on 31 March 2022 as against Rs 56,534.95 crore as on 31 March 2021 and Rs 45,759.76 crore as on 31 December 2021.
Gross NPA ratio declined to 9.98% as on 31 March 2022 from 13.77% as on 31 March 2021 and 10.46% recorded as on 31 December 2021. Net NPA ratio stood at 2.34% as on 31 March 2022 as against 3.35% as on 31 March 2021 and 2.66% recorded as on 31 December 2021.
The bank's slippage ratio improved to 0.44% in Q4 FY22 from 2.05% in Q4 FY21. Meanwhile Credit Cost fell to 1.1% in Q4 FY22 from 3.36% in Q4 FY21.
The bank's deposits marginally increased to Rs 6,27,895.96 crore, while advances rose 15.08% to Rs 4,20,841.79 crore as on 31 March 2022 from 3,65,686.52 recorded on 31 March 2021.
As on 31 March 2022, the bank's capital adequacy ratio (CRAR) stood at 17.04% against 14.93% in March 2021.
Meanwhile, the bank's board approved a dividend of Rs 2 per share.
Bank of India is a public sector bank. The Government of India held 81.41% stake in Bank of India as on 31 March 2022.
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