Mumbai,14.02.18-Bank of India announced its audited results for the Q3 FY 2017-18, following approval by its Board of Directors on February 12, 2018.


  • Global Business of the Bank stood at Rs.9,05,541 crore as on December 31, 2017 against Rs.9,29,656 as on December 31, 2016. The de-growth in total business level has been as a result of conscious decision of the Bank for Consolidation, Cleansing of books and for Conservation of Capital. 
  • In order to rationalize the level of advances in line with the Capital, the Bank had to curtail its overseas advances by Rs.13634 crore with respect to position as on September 30, 2017 as well as resorted to placement of Inter Bank Participation Certificate (IBPC) with other banks against our advances assets amounting Rs.8312 crore. These IBPCs are technically not included in our Bank’s books of account. Including the IBPC, the Bank’s Global Business would have been Rs.9,13,853 crore.
  • The ratio of CASA has improved from 39.84% in March, 2017 to 40.36% in December,2017. The CASA level has improved from Rs. 1,62,770 crore in September,2017 to Rs. 165621 crore in December,2017 as a result of various initiatives taken by the Bank.
  • The Gross Advances stood at Rs. 3,79,538 crore as on December 31, 2017 against Rs.3,87,028 crore as on December 31,2016. The decline in advances was because of rebalancing of exposure in overseas operation. The domestic advances, however, increased from Rs.2,76,141 crore  as on December 31, 2016 to Rs.2,80,670 crore as on December 31, 2017, even after IBPC placement of Rs. 8312 crore in December,2017. But for IBPC, the domestic advances level would have been Rs.2,88,982 crore, showing y-o-y increase of 4.7%.
  • The RAM Advances (Retail, Agriculture and MSME) increased from Rs.1,31,246 crore as on December 31,2016 to Rs.1,45,051 crore as on December 31,2017 and its share in Advances increased from 47.53%in December 2016 to 51.68% in December 2017.
  • Priority Sector advances stood at Rs. 1,13,611 crore which constitutes 40.65   % of ANBC. Agriculture advances were Rs 51,266 crore forming 18.34 % of ANBC. Both the sectoral advances were above the regulatory requirement.


Because of one time reclassification of certain assets by the Reserve Bank of India in their Risk Based Supervision/ Risk Assessment, Bank’s NPA ratios moved up in the current quarter. The Gross NPA ratio went up from 12.62% in September, 2017 to 16.93% in December 2017. Similarly, the net NPA ratio has gone up from 6.47% in September, 2017 to 10.29% in December, 2017.

 Gross NPA went up from Rs. 49307 crore in September, 2017 to Rs.64249 crore in December, 2017 and Net NPA moved up from Rs.23566 crore to Rs.36117 crore during the same period.

 The RBI, in their Risk Based Supervision/Risk Assessment conducted for FY2016-17, has mandated us to classify Rs. 14,057 crore assets as NPAs. Out of this, major portion i.e. Rs.9405 crore is our lending against Stand by Letter of Credit (SBLC) issued by other Banks. The remaining amount represents consortium advances, where the Bank is not a leader and have abided by the decisions of the JLF. Consequently, the NPAs of foreign branches has increased from Rs. 9635 crore in September 2017 to Rs. 20,775 in December,2017. Out of Rs.9405 crore of lending against SBLC marked as NPAs, we have already recovered Rs. 4751 crore by now and we are quite confident to recoup rest of the amount by March,2018

 Total Global Restructured Standard Assets of the Bank came down both on y-o-y basis as well as sequentially. From Rs.12809 crore in December,2016 and Rs. 11819 crore in September, 2017,  it has come down to Rs. 10633 crore in December,2017.


 PROFIT – Q3 FY 2017-18:

  • The Bank’s Operating Profit stood at Rs.1,354 crore for Q3- 2017-18 as against Rs.2458 crore for Q3 2016-17.The Bank’s operating profits have been impacted by decline in interest income because of NPAs and lower treasury income on account of hardening of yield rate. 
  • The Bank posted Net profit of (-) Rs. 2,341.23 crore in Q3-FY 2017-18 against a profit Rs. 101.73 crore posted in Q3 2016-17. The sharp decline was due to provisioning for bad debts as well as for treasury (MTM) losses. 
  • The Non-interest Income of the Bank declined from Rs.1769 crore in December,2016 to Rs.1041 crore in December,2017, mainly because of lower income from sale of investment in treasury operations. However, excluding the same, non-interest income has gone up from Rs. 768 crore in December, 2016 to Rs. 960 crore in December, 2017, i.e. by 25.0%. 


  • The CRAR on solo basis (Basel III) stood at 12.05% as of December 31, 2017. The Tier-I Capital stood at 8.82% and CET-1 ratio at 7.06%, which is above the Regulatory norm.


  • The NIM (Global) of the Bank has come down from 2.21% in Q3- FY 2016-17 to 1.88% in Q3- FY 2017-18 on account of lower yield which was due to higher NPAs. The yield on funds stood at 6.01% in Dec 2017 against 6.37% in Dec 2016. However, we have pruned the cost of deposits and cost of funds. The Cost of Deposits (global) came down from 4.81% in Q3-FY 2017 to 4.47% in Q3-FY 2018 and the Cost of funds came down from 4.51% to 4.40% during the same period. Particularly, the domestic cost of deposits has been brought down from 6.00% to 5.43% through various measures, including organizing special campaign for CASA mobilisation and shedding of high cost deposits.


v  During the current year the Bank has implemented various initiatives for a Prompt Turn Around.  A few of them are mentioned as under:

v  Concept of Area Managers and Star Prime implemented for being more customer focused and for business development, recovery, digitization at ground level and re-activation of branches.

v  Monthly Campaign called “Ghar Ghar Dastak” being organized every month for speeding up CASA, NPA Recovery and Credit disbursement.

v  Special CASA campaigns “Amantran” organized with special focus on Government, Business Associates, HNIs & NRIs

v  Strategy for re-balancing of portfolio in favour of RAM advances (Retail, Agriculture and MSME) and reducing exposure to Corporate sector.

v  A non-discriminatory OTS Scheme called “Mission Samaadhan” formulated for quick resolution of NPAs

v  Refurbishing select branches as “Star Digi” branches with high end digitalized services for tech savvy customers.

v  IT initiative “Star Mahashakti” being implemented for taking the Bank’s technological capability to next level

v  Focus on Digitisation and Alternate Delivery Channels such as internet Banking, Debit and Credit Cards, POS machines

v  One of the premier Banks in implementing concept of Digital Village. Till now 325 villages converted into digital villages.

v  Activation of 561 Growth Centers through Business Correspondents (BCs) called -“Star Points” for expanding our outreach.


v  Bank of India ranked as the 2nd Most Trusted Bank in the PSU Bank category by Economic Times.

v  Bank of India has been conferred “Market Achievers’ Award” in Currency Derivatives Segmentamongst Public Sector Banks by NSE.

v  Bank of India awarded as “Best Performer in Currency Derivative Segment” amongst all Banks’ Category by BSE.

v  IDRBT Banking Technology Excellence Award, Best Bank for Managing IT Ecosystem, large Bank category.

v   IDRBT Banking Technology Excellence Award, Best Bank for Electronic Payments, large bank category.

v  Bank’s In-House Journal ‘Taarangan’ conferred with Prestigious ‘ABCI Magazine of the Year Award 2017’ at Mumbai