Bank of India announced Q4 FY 17 Results

Shri Shanker Iyer (General Manager & CFO); Shri N. Damodharan (Executive Director); Shri Dinabandhu Mohapatra (MD & CEO); Shri R A Sankara Narayanan (Executive Director) and Shri Atanu Kumar Das (Executive Director) at the Bank of India press conference to announce the bank's Q4 FY17 financial results. The Bank’s Operating Profit as on March 31, 2017 is Rs.9,733 crore as against Rs. 6,036 crore as on March 31, 2016 showing YoY growth of 61.25%. The Bank declared PAT of Rs. (1,558 crore) in FY2016-17 as against Rs. (-6,089 crore) PAT for corresponding period last year. NII during FY 2016-17 has improved to Rs.11,826 crore as compared to Rs.11,724 crore in FY 2015-16, an increase of 0.87% YoY. Net Interest Margin (NIM) on domestic operations has improved from 2.50% in FY 2015-16 to 2.60% in FY 2016-17. NIM on overseas operations was 1.25% for FY 2016-17. Overall the global NIM has improved to 2.20% in FY 2016-17 from 2.11% in FY 2015-16. Non-Interest Income during FY 2016-17 has improved to Rs.6,772 crore as compared to Rs.3,653 crore in FY 2015-16 increase of 85% YoY. The Bank’s Operating Profit for Q4 2016-17 is Rs.3,128 crore as against Rs. 1,464 crore as on Q4 2015-16 showing YoY growth of 113%. The Bank declared PAT of Rs. (-1,046 crore) in Q4-FY2016-17 as against Rs. (-3,587 crore) PAT for corresponding period last year. NII in Q4FY 2016-17 has improved to Rs.3,469 crore as compared to Rs.3,187 crore in Q4FY 201516, an increase of 9% YoY.