Bank of India net up 91% to Rs 143 crore

BS 200 SCORECARD

Bank of India posted 90.72 per cent rise in its third quarter net profit at Rs 143.1 crore against Rs 75.07 crore in the same quarter of 2004. Total income rose to Rs 2,063.09 crore from Rs 1,743.27 crore a year ago.

The earning per share of the bank stood at Rs 2.94 on December 31, 2005 (Rs 1.54). Growth in fee-based income and interest income boosted profits, CMD M Balachandran said.

The interest income rose to Rs 1,800.59 crore in the period from Rs 1,509.85 crore. Total business comprising advances and deposits rose 14.72 per cent to Rs 1,50,568 crore. Advances grew 15.78 per cent to Rs 62,774 crore from Rs 54, 218 crore a year ago.

Global deposits grew 13.98 per cent to Rs 87,794 crore against Rs 77,029 crore a year ago. The share of low-cost deposits "� saving and current accounts "� increased to 41.39 per cent from 39.75 per cent.

The net non-performing assets declined to 1.98 per cent from 3.85 per cent a year. The capital adequacy ratio slipped to 11.37 per cent in the quarter under review from 11.90 per cent last year.