Analyst Meet / AGM - Analyst Meet

15-Feb-2016, 06:40
Bank of India conducted an analyst meet on 11 February 2016 to discuss the financial performance of bank for the quarter ended December 2015 and the prospects of the bank. Melwyn Rego- MD&CEO addressed the meet:

Highlights:

• Global deposits of the bank were flat at Rs 528772 crore, while the advances decline 3% to Rs 397914 crore at end December 2015 over December 2014.

• CASA ratio improved to 32.3% at end December 2015 from 31.2% at end June 2015 and 28.7% at end December 2014.

• Bank has added new 21 branches and 71 ATMs in the quarter ended December 2015. Bank has the network of 4984 branches and 7787 ATMs at end December 2015.

• Fresh slippages increased to Rs 9806 crore in the quarter ended December 2015. The surge in fresh slippages of advances in Q3FY2016 was also caused by RBI's advice to the banks to revise asset classification/ provisions in respect of certain loan accounts under Asset Quality Review (AQR) of the banking system.

• About Rs 2200 crore of slippages came from infrastructure segment, Rs 1100 crore from textiles, Rs 480 crore from petroleum, Rs 250 crore from construction etc.

• Bank has considered half of the AQR related assets amounting to Rs 3500-4000 crore in Q3FY2016, while balance would be considered in Q4FY2016.

• Bank has conducted fresh restructuring of advances worth Rs 327 crore the quarter ended December 2015. Outstanding standard restructured advances of the bank stood at Rs 17270 crore (4.3% of global advances) at end December 2015.

• The outstanding refinancing under 5/25 scheme stood at Rs 1960 crore for 9 accounts.

• The outstanding under Strategic Debt Restructuring Scheme (SDR) stood at Rs 1239 crore.

• The securities receipts on banks book stood at Rs 2800 crore

• In next two years, bank proposes to reduce the share of corporate loans to 45% from 53% currently, while raise share of retail, agriculture and MSME to 55%.

• The banks major focus area would be NPA management and raising of CASA deposits.

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