Net interest income in Q4 fell 6.2 percent to Rs 3,793 crore YoY, while the net interest margin (global) declined by 3 basis points to 2.90 percent YoY.
Bank of India share price declined 4.8 percent intraday on June 25 after the public sector lender reported a massive loss for the March quarter of 2020.
The stock, which has corrected 40 percent in the last year, was trading at Rs 52.30, down 4.74 percent on the BSE at 1433 hours.
The state-owned lender posted a net loss of Rs 3,571.4 crore in March quarter as provisions and contingencies jumped 329 percent due to additional provisions of Rs 3,941.36 crore in six NPA accounts. It had reported a profit of Rs 251.8 crore in the corresponding period of the last fiscal.
Net interest income in Q4 fell 6.2 percent to Rs 3,793 crore YoY, while the net interest margin (global) declined by 3 basis points to 2.90 percent YoY.
Asset quality improved on lower slippages, which were at Rs 2,764 crore as of March 2020 against Rs 6,716 crore in the December quarter.
Gross non-performing assets (NPA) as a percentage of gross advances fell 150 bps sequentially to 14.8 percent and net NPA dropped 210 bps QoQ to 3.9 percent in Q4FY20.
