Q4FY24 Quarterly & FY24 Annual Result Announced for Bank of India
Bank of India announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Net Profit for the quarter improved by 7% YoY and stood at Rs 1,439 crore for Q4FY24 against Rs 1,350 crore in Q4FY23. Operating Profit stood at Rs 3,557 crore for Q4FY24 against Rs 4,184 crore in Q4FY23. Net Interest Income (NII) increased by 7% YoY and stood at Rs 5,937 crore for Q4FY24 against Rs 5,523 crore for Q4FY23. Non-Interest Income stood at to Rs 1,751 crore for Q4FY24 against Rs 3,099 crore in Q4FY23. NIM (Global) stood at 2.92% in Q4FY24 against 3.15% in Q4FY23 and 2.85% in Q3FY24. NIM (Domestic) stood at 3.30% in Q4FY24 against 3.59% in Q4FY23 and 3.21% in Q3FY24. Return on Assets (Global) stood at 0.61% in Q4FY24 against 0.63% in Q4FY23. Cost to Income ratio (Global) stood at 53.73% in Q4FY24 against 51.48% in Q4FY23. Yield on Advances (Global) improved by 52 bps YoY to 8.47% in Q4FY24 against 7.95% in Q4FY23. Cost of Deposits (Global) stood at 4.71% in Q4FY24 against 3.91% in Q4FY23 FY24 Financial Highlights: Net Profit increased by 57% YoY and stood at Rs 6,318 crore for FY24 against Rs 4,023 crore in FY23. Operating Profit improved by 5.05% YoY and stood at Rs 14,069 crore for FY24 against Rs 13,393 crore in FY23. Net Interest Income (NII) increased by 14% YoY and stood at Rs 23,053 crore for FY24 against Rs 20,275 crore in FY23. Non-Interest Income stood at Rs 6,095 crore for FY24 against Rs 7,100 crore in FY23. NIM (Global) stood at 2.97% in FY24 against 3.01% in FY23. NIM (Domestic) stood at 3.34% in FY24 against 3.43% in FY23. Return on Assets (RoA) improved by 21 bps YoY to 0.70% in FY24 against 0.49% in FY23. Return on Equity (RoE) improved by 282 bps YoY to 13.13% in FY24, against 10.31% in FY23. Cost to Income ratio (Global) stood at 51.73% in FY24 against 5.1.08% in FY23. Slippage Ratio stood at 1.58% in FY24 against 1.94% in FY23 Credit Cost stood at 0.78% in FY24 against 0.79% in FY23. Yield on Advances (Global) improved by 101 bps to 8.38% in FY24 against 7.37% in FY23. Cost of Deposits (Global) stood at 4.51% in FY24 against 3.67% in FY23. Result PDF10-05-2024