Bank of India Reports Robust Growth Across Global Business in Q4FY24

Net Profit for the quarter improved by 7% YoY and stood at Rs.1,439 Cr for Q4FY24 against Rs.1,350 Cr in Q4FY23. Operating Profit stood at Rs.3,557 Cr for Q4FY24 against Rs.4,184 Cr in Q4FY23.

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v  Global Business increased by 11.65% YoY.

v  Global Deposits increased by 10.21% YoY.

v  Global Advances increased by 13.52% YoY.

v  Advances (Dom.) increased by 14.08% YoY.

v  RAM Advances grew by 15.55% YoY and it constitutes 55.74% of Advances.

v  Retail Credit grew by 18.12% YoY.

v  Agriculture Credit grew by 16.69% YoY.

v  MSME Credit grew by 10.96% YoY.

v  CASA deposits increased by 7.03% YoY and CASA ratio at 43.21%.

v  Net Profit increased by 57% YoY to Rs.6,318 Cr.

v  Yield on Advances (Global) improved by 101 bps YoY.

v  Yield on Advances (Dom.) improved by 77 bps YoY.

v  Gross NPA ratio down by 233 bps YoY.

v  Net NPA ratio down by 44 bps YoY.

v  Provision Coverage Ratio (PCR) at 90.59%.

v  CRAR stood at 16.96%, with CET-1 ratio at 14.24%.



·         Net Profit for the quarter improved by 7% YoY and stood at Rs.1,439 Cr for Q4FY24 against Rs.1,350 Cr in Q4FY23.

·         Operating Profit stood at Rs.3,557 Cr for Q4FY24 against Rs.4,184 Cr in Q4FY23.

·         Net Interest Income (NII) increased by 7% YoY and stood at Rs.5,937 Cr for Q4FY24 against Rs.5,523 Cr for Q4FY23.

·         Non-Interest Income stood at to Rs.1,751 Cr for Q4FY24 against Rs.3,099 Cr in Q4FY23.


·         Net Profit increased by 57% YoY and stood at Rs.6,318 Cr for FY'24 against Rs.4,023 Cr in FY'23.

·         Operating Profit improved by 5.05% YoY and stood at Rs.14,069 Cr for FY'24 against Rs.13,393 Cr in FY'23.

·         Net Interest Income (NII) increased by 14% YoY and stood at Rs.23,053 Cr for FY'24 against Rs.20,275 Cr in FY'23.

·         Non-Interest Income stood at Rs.6,095 Cr for FY'24 against Rs.7,100 Cr in FY'23.

Ratios (04-FY241:

·         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.

Ratios (FY241:

·         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.


·         Global Business increased by 11.65% YoY from Rs.11,85,438 Cr in Mar'23 to Rs.13,23,515 Cr in Mar'24.

·         Global Deposits increased by 10.21% YoY from Rs. 6,69,586 Cr in Mar'23 to Rs. 7,37,920 Cr in Mar'24.

·         Global Advances increased by 13.52% YoY from Rs. 5,15,852 Cr in Mar'23 to Rs. 5,85,595 Cr in Mar'24.

·         Overseas Deposits increased by 5.54% YOY to Rs. 1,08,203 Cr and Overseas Advances increased by 10.67% YOY to Rs. 93,203 Cr in Mar'24.

·         Domestic Deposits increased by 11.05% YoY from Rs.5,67,063 Cr in Mar'23 to Rs.6,29,717 Cr in Mar'24.

·         Domestic CASA went up by 7.03% YoY from Rs.2,52,149 Cr in Mar'23 to Rs.2,69,872 Cr in Mar'24 and CASA ratio stood at 43.21%.

·         Domestic Advances increased by 14.08% YoY from Rs. 4,31,637 Cr in Mar'23 to Rs. 4,92,392 Cr in Mar'24.

·         RAM Advances increased by 15.55% YoY to Rs.2,74,477 Cr, constituting to 55.74% of Advances in Mar'24.

·         Retail Credit grew by 18.12% YoY to Rs.1,11,484 Cr in Mar'24.

·         Agriculture Credit grew by 16.69% YoY to Rs.84,460 Cr in Mar'24.

·         MSME Credit grew by 10.96% YoY to Rs.78,533 Cr in Mar'24

Asset Quality:

·         Gross NPA declined by 23% YoY from Rs.37,686 Cr in Mar'23 to Rs.29,183 Cr in Mar'24.

·         Net NPA declined by 15% YoY from Rs.8,054 Cr in Mar'23 to Rs.6,845 Cr in Mar'24.

·         GNPA ratio improved by 233 bps from 7.31% in Mar'23 to 4.98% in Mar'24.

·         Net NPA ratio improved by 44 bps from 1.66% in Mar'23 to 1.22% in Mar'24.

·         Provision Coverage Ratio (PCR) stood at 90.59% in Mar'24.

Capital Adequacy:

·         As on 31.03.2024, Bank's total Capital Adequacy Ratio (CRAR) was at 16.96% against 16.28% in Mar'23.

·         CET-1 ratio stood at 14.24% as on 31.03.24.

Priority Sector:

·         Priority Sector Advances increased by 11.51% YOY and achieved 44.08% of ANBC as on Mar'24. Agricultural advances achieved 20.30% of ANBC.

·         Advances to Small & Marginal Farmers achieved 12.83% of ANBC in Mar'24 against regulatory norm of 10%.

·         Advances to Weaker Sections achieved 15.94% of ANBC in Mar'24 against regulatory norm of 12%.

Bank of India

Digital Banking:

·         Internet Banking users: Increased to 8.9 million in Mar'24 from 8.5 million in Mar'23.

·         Mobile Banking users: Increased to 11.0 million in Mar'24 from 7.1 million in Mar'23.

·         Number of UPI users increased to 18.8 million in Mar'24 from 15.6 million in Mar'23.

Branch Network:

·         As on 31st Mar'24, the Bank has 5148 number of Domestic branches.

·         Rural: 1862 (36%), Semi-Urban: 1464 (29%), Urban: 830 (16%), Metro: 992 (19%)

Bank of India Robust Growth