Provisions of the lender elevated 57 per cent on a YoY foundation and declined 29 per cent sequentially in Q1FY25 to Rs 1,293 crore.
State-owned Financial institution of India (BoI) reported a ten per cent year-on-year (YoY) progress in internet revenue for the quarter ending June 2024 (Q1FY25), aided by decrease tax outgo. Its internet revenue for the quarter stood at Rs 1,703 crore, as towards Rs 1,551 crore within the corresponding interval a yr in the past.
Internet curiosity earnings (NII) was up 6 per cent YoY to Rs 6,275 crore in Q1FY25, in comparison with Rs 5,915 crore in Q1FY24, aided by strong progress in advances. Nevertheless, its non-interest earnings was down 12 per cent YoY to Rs 1,302 crore.
Its internet curiosity margin – a measure of profitability of banks – stood at 3.07 per cent in Q1FY25, up 14 foundation factors (bps) from the previous quarter.
Provisions of the lender elevated 57 per cent on a YoY foundation and declined 29 per cent sequentially in Q1FY25 to Rs 1,293 crore.
Gross slippages for the quarter stood at Rs 2,973 crore in Q1FY25, out of which Rs 1,056 was from the MSME sector, Rs 588 crore was from the retail portfolio, and Rs 737 crore was from the agriculture portfolio. Company slippages for the quarter stood at Rs 564 crore.
Gross Slippages in Q1FY25 was decrease than Q4FY24 and Q1FY24. The financial institution had reported gross slippages to the tune of Rs 3,309 crore in Q4FY24, and Rs 4,030 crore in Q1FY24.
Asset high quality of the lender improved, with gross non-performing property (NPAs) ratio at 4.62 per cent in Q1FY25, down 36 bps from the previous quarter. Internet NPAs had been additionally down 23 bps at 0.99 per cent in Q1FY25. Provision protection ratio (PCR) of the lender improved to 92.11 per cent in Q1FY25, as towards 90.59 per cent in Q4FY24.
Advances of the lender was up 15.82 per cent YoY and a pair of.50 per cent sequentially to Rs 6 trillion. And, deposits had been up 9.91 per cent YoY and a pair of.89 per cent sequentially to six.47 trillion throughout Q1FY25.
First Revealed: Aug 03 2024 | 3:03 PM IST
