Bank of India

Bank of India's npls (as % of loans) fell 2.76% to 16.9% in 2018

By Helgi Analytics - November 2, 2019

Bank of India's non-performing loans reached 16.9% of total loans at the end of 2018, down from 17.4% compared to the previous ye...

Bank of India's net profit rose 8.97% to INR -54.3 bil in 2018

By Helgi Analytics - November 2, 2019

Bank of India made a net profit of INR -54.3 bil under revenues of INR 186 bil in 2018, up 8.97% and 13.4% respectively compared to t...

Bank of India's capital adequacy ratio rose 9.75% to 14.9% in 2018

By Helgi Analytics - November 2, 2019

Bank of India's capital adequacy ratio reached 14.9% at the end of 2018, up from 13.5% compared to the previous year. Histori...

Profit Statement 2016 2017 2018
Net Interest Income INR bil 120 106 138
Net Fee Income INR bil 13.4 13.5 12.6
Other Income INR bil 54.5 44.4 35.6
Total Revenues INR bil 188 164 186
Operating Profit INR bil 95.4 58.1 68.5
Provisions INR bil 120 145 159
Net Profit INR bil -14.7 -59.6 -54.3
Balance Sheet 2016 2017 2018
Interbank Loans INR bil 689 644 655
Customer Loans INR bil 3,683 3,433 3,430
Debt Securities INR bil 1,293 1,387 1,493
Total Assets INR bil 6,320 6,152 6,309
Shareholders' Equity INR bil 337 369 478
Interbank Borrowing INR bil 24.2 13.8 12.8
Customer Deposits INR bil 4,850 5,230 5,226
Issued Debt Securities INR bil 959 436 443
Ratios 2016 2017 2018
ROE % -4.38 -16.9 -12.8
ROA % -0.235 -0.956 -0.871
Costs (As % Of Assets) % 1.48 1.70 1.89
Costs (As % Of Income) % 49.2 64.6 63.2
Capital Adequacy Ratio % 12.6 13.5 14.9
Net Interest Margin % 1.92 1.71 2.22
Loans (As % Of Deposits) % 76.0 65.6 65.6
NPLs (As % Of Loans) % 14.1 17.4 16.9
Provisions (As % Of NPLs) % 34.0 24.4 26.0
Valuation 2016 2017 2018
Market Capitalisation (End Of Period) USD mil 2,164 2,835 4,123
Share Price (End Of Period) INR 148 157 155
Price/Earnings (P/E) ... ... ...
Price/Book Value (P/BV) 0.436 0.489 0.602
Dividend Yield % 0 0 0
Earnings Per Share (EPS) INR -14.8 -51.8 -29.1
Book Value Per Share INR 340 321 257
Dividend Per Share INR 0 0 0

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summary Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                                  
Net Interest Income INR bil                     91.7 110 115 119 120    
Total Revenues INR bil                     129 153 157 155 188    
Operating Profit INR bil                     70.3 79.6 74.9 62.2 95.4    
Net Profit INR bil                     28.2 29.9 20.1 -62.0 -14.7    
balance sheet                                  
Interbank Loans INR bil                     641 425 790 653 689    
Customer Loans INR bil                     2,598 3,727 3,748 3,613 3,683    
Debt Securities INR bil                     957 1,155 1,219 1,212 1,293    
Total Assets INR bil                     4,564 5,782 6,253 6,166 6,320    
Shareholders' Equity INR bil                     245 309 327 334 337    
Interbank Borrowing INR bil                     23.5 11.0 16.0 11.6 24.2    
Customer Deposits INR bil                     3,431 4,787 4,725 5,157 4,850    
Issued Debt Securities INR bil                     743 484 1,016 511 959    
ratios                                  
ROE %                     12.3 10.8 6.34 -18.8 -4.38    
ROA %                     0.668 0.577 0.335 -0.999 -0.235    
Costs (As % Of Assets) %                     1.40 1.41 1.37 1.50 1.48    
Costs (As % Of Income) %                     45.6 47.9 52.4 59.9 49.2    
Capital Adequacy Ratio %                     11.1 10.2 11.2 12.4 12.6    
Net Interest Margin %                     2.17 2.13 1.91 1.91 1.92    
Interest Income (As % Of Revenues) %                     70.9 72.0 73.1 76.5 63.9    
Fee Income (As % Of Revenues) %                     9.87 9.41 10.3 9.12 7.12    
Equity (As % Of Assets) %                     5.38 5.34 5.23 5.42 5.33    
Loans (As % Of Deposits) %                     75.7 77.9 79.3 70.1 76.0    
Loans (As % Assets) %                     56.9 64.5 59.9 58.6 58.3    
NPLs (As % Of Loans) %                     3.35 3.16 5.81 13.2 14.1    
Provisions (As % Of NPLs) %                     22.4 30.1 33.5 40.4 34.0    
valuation                                  
Market Capitalisation (End Of Period) USD mil                     3,300 2,379 2,066 1,195 2,164    
Number Of Shares (Average) mil                     575 610 643 734 991    
Share Price (End Of Period) INR                     314 241 202 108 148    
Earnings Per Share (EPS) INR                     49.0 49.0 31.3 -84.6 -14.8    
Book Value Per Share INR                     427 506 508 456 340    
Dividend Per Share INR                     10.4 6.16 5.17 0 0    
Price/Earnings (P/E)                     6.41 4.92 6.47 ... ... ... ...
Price/Book Value (P/BV)                     0.737 0.476 0.398 0.237 0.436    
Dividend Yield %                     3.30 2.55 2.55 0 0    
Earnings Per Share Growth % ...                   -1.69 -0.090 -36.1 -370 -82.5    
Book Value Per Share Growth % ...                   8.56 18.6 0.488 -10.3 -25.4    
income statement Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                                  
Interest Income INR bil                     321 382 437 421 396    
Interest Cost INR bil                     230 272 322 302 276    
Net Interest Income INR bil                     91.7 110 115 119 120    
Net Fee Income INR bil                     12.8 14.4 16.2 14.2 13.4    
Other Income INR bil                     24.8 28.4 26.1 22.4 54.5    
Total Revenues INR bil                     129 153 157 155 188    
Operating Cost INR bil                     58.9 73.1 82.5 93.0 92.5    
Operating Profit INR bil                     70.3 79.6 74.9 62.2 95.4    
Provisions INR bil                     40.1 44.0 56.4 143 120    
Extra and Other Cost INR bil                     -0.002 < -0.001 < -0.001 -0.004 0    
Pre-Tax Profit INR bil                     30.2 35.7 18.5 -80.6 -24.1    
Tax INR bil                     2.76 8.34 1.03 -17.2 -8.18    
Minorities INR bil                     -0.018 0.014 0.019 -0.717 -0.214    
Net Profit INR bil                     28.2 29.9 20.1 -62.0 -14.7    
Dividends INR bil                     5.97 3.76 3.32 0 0    
growth rates                                  
Net Interest Income Growth % ...                   8.78 20.0 4.65 3.06 1.26    
Net Fee Income Growth % ...                   -0.185 12.8 12.8 -12.7 -5.46    
Total Revenue Growth % ...                   10.3 18.2 3.07 -1.42 21.1    
Operating Cost Growth % ...                   1.12 24.1 12.9 12.7 -0.476    
Operating Profit Growth % ...                   19.4 13.3 -5.93 -17.0 53.4    
Pre-Tax Profit Growth % ...                   -17.2 18.2 -48.1 -535 -70.1    
Net Profit Growth % ...                   3.49 5.92 -32.6 -408 -76.3    
market share                                  
Market Share in Revenues % ... ... ... ... ... ... ... ... ...   5.47 5.66 5.19 4.61 4.67   ...
Market Share in Net Profit % ... ... ... ... ... ... ... ... ...   4.76 5.54 3.69 ... ... ... ...
balance sheet Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
balance sheet                                  
Cash INR bil                     221 193 275 342 275    
Interbank Loans INR bil                     641 425 790 653 689    
Customer Loans INR bil                     2,598 3,727 3,748 3,613 3,683    
Debt Securities INR bil                     957 1,155 1,219 1,212 1,293    
Fixed Assets INR bil                     29.0 58.2 59.1 85.7 85.5    
Total Assets INR bil                     4,564 5,782 6,253 6,166 6,320    
Shareholders' Equity INR bil                     245 309 327 334 337    
Of Which Minority Interest INR bil                     0.734 0.840 1.68 0.980 0.810    
Liabilities INR bil                     4,319 5,473 5,926 5,832 5,983    
Interbank Borrowing INR bil                     23.5 11.0 16.0 11.6 24.2    
Customer Deposits INR bil                     3,431 4,787 4,725 5,157 4,850    
Sight Deposits INR bil                     194 218 212 236 276    
Term Deposits INR bil                     3,237 4,569 4,513 4,921 4,574    
Issued Debt Securities INR bil                     743 484 1,016 511 959    
Other Liabilities INR bil                     121 191 169 152 150    
asset quality                                  
Non-Performing Loans INR bil                     87.8 119 222 503 523    
Gross Loans INR bil                     2,618 3,762 3,822 3,816 3,700    
Total Provisions INR bil                     19.6 35.7 74.5 203 177    
growth rates                                  
Customer Loan Growth % ...                   4.03 43.4 0.570 -3.60 1.94    
Total Asset Growth % ...                   17.8 26.7 8.15 -1.38 2.50    
Shareholders' Equity Growth % ...                   14.3 25.7 5.94 2.30 0.797    
Customer Deposit Growth % ...                   7.42 39.5 -1.30 9.16 -5.96    
market share                                  
Market Share in Customer Loans % ... ...                 4.70 5.80 5.28 4.53 4.46   ...
Market Share in Total Assets %                     5.26 5.72 5.61 4.89 4.45   ...
Market Share in Customer Deposits %                     5.45 6.65 5.79 5.64 4.56   ...
ratios Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
ratios                                  
ROE %                     12.3 10.8 6.34 -18.8 -4.38    
ROA %                     0.668 0.577 0.335 -0.999 -0.235    
Costs (As % Of Assets) %                     1.40 1.41 1.37 1.50 1.48    
Costs (As % Of Income) %                     45.6 47.9 52.4 59.9 49.2    
Capital Adequacy Ratio %                     11.1 10.2 11.2 12.4 12.6    
Tier 1 Ratio %         ...           8.31 7.42 8.63 9.41 9.42    
Net Interest Margin %                     2.17 2.13 1.91 1.91 1.92    
Interest Spread % ...                   1.86 1.83 1.61 1.64 1.67    
Asset Yield %                     7.61 7.38 7.27 6.78 6.35    
Cost Of Liabilities % ...                   5.75 5.55 5.65 5.14 4.67    
Payout Ratio %                     21.2 12.6 16.5 0 0    
Interest Income (As % Of Revenues) %                     70.9 72.0 73.1 76.5 63.9    
Fee Income (As % Of Revenues) %                     9.87 9.41 10.3 9.12 7.12    
Other Income (As % Of Revenues) %                     19.2 18.6 16.6 14.4 29.0    
Equity (As % Of Assets) %                     5.38 5.34 5.23 5.42 5.33    
Loans (As % Of Deposits) %                     75.7 77.9 79.3 70.1 76.0    
Loans (As % Assets) %                     56.9 64.5 59.9 58.6 58.3    
NPLs (As % Of Loans) %                     3.35 3.16 5.81 13.2 14.1    
Provisions (As % Of NPLs) %                     22.4 30.1 33.5 40.4 34.0    
Provisions (As % Of Loans) %                     0.756 0.958 1.99 5.62 4.82    
Cost of Provisions (As % Of Loans) %                     1.58 1.39 1.51 3.88 3.28    
other data Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
other data                                  
Employees                     42,146 43,150 45,300 45,300 47,750    
Sight (As % Of Customer Deposits) %                     5.65 4.55 4.49 4.59 5.69    

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Bank of India's net interest margin rose 29.9% to 2.22% in 2018

By Helgi Analytics - November 2, 2019

Bank of India's net interest margin amounted to 2.22% in 2018, up from 1.71% compared to the previous year. Historically, the bank’s net interest margin reached an all time high of 2.73% in 2008 and an all time low of 1.71% in 2017. The average margin i...

Bank of India's net interest income rose 29.8% to INR 138 bil in 2018

By Helgi Analytics - November 2, 2019

Bank of India generated total banking revenues of INR 186 bil in 2018, up 13.4% compared to the previous year. Historically, the bank’s revenues containing of interest, fee and other non-interest income reached an all time high of INR 188 bil in 2016 and an all...

Bank of India's customer loan growth rose 98.6% to -0.094% in 2018

By Helgi Analytics - November 2, 2019

Bank of India's customer loan growth reached -0.094% in 2018, up from -6.80% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 43.4% in 2013 and an all time low of -6.80% in 2017. In the last decade, the aver...

Bank of India's customer loans fell 0.094% to INR 3,433 bil in 2018

By Helgi Analytics - November 2, 2019

Bank of India's customer loans reached INR 3,433 bil in 2017, down 6.80% compared to the previous year. Indian banking sector provided customer loans of INR 88,362 bil in 2017, up 7.04% when compared to the last year. Bank of India accounted for 3.89% of ...

Bank of India's customer deposits fell 0.085% to INR 5,230 bil in 2018

By Helgi Analytics - November 2, 2019

Bank of India's customer deposits reached INR 5,230 bil in 2017, up 7.84% compared to the previous year. Indian banking sector accepted customer deposits of INR 110,303 bil in 2017, up 3.61% when compared to the last year. Bank of India accounted for 4.74...

Bank of India's total revenues rose 13.4% to INR 164 bil in 2018

By Helgi Analytics - November 2, 2019

Bank of India generated total banking revenues of INR 164 bil in 2017, down 12.6% compared to the previous year. Indian banking sector banking sector generated total revenues of INR 4,320,359 mil in 2017, up 7.41% when compared to the last year. ...

Bank of India's price/earnings (P/E) rose 31.4% to 6.47 in 2014

By Helgi Analytics - November 2, 2019

Bank of India stock traded at INR 202 per share at the end 2014 implying a market capitalization of USD 2,066 mil. Since the end of 2009, the stock has depreciated by -40.6 % implying an annual average growth of -9.90 %. In absolute terms, the value of the company ...

Bank of India's share price (end of period) fell 1.59% to INR 202 in 2018

By Helgi Analytics - November 2, 2019

Bank of India stock traded at INR 202 per share at the end of 2014 implying a market capitalization of USD 2,066 mil. Since the end of 2009, the stock has depreciated by -40.6 % implying an annual average growth of -9.90 %. In absolute terms, the value of the company ...

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Bank of India Logo

Finance

Bank of India has been growing its revenues and asset by 8.02% and 10.8% a year on average in the last 10 years. Its loans and deposits have grown by 9.12% and 10.6% a year during that time and loans to deposits ratio reached 65.6% at the end of 2018. The company achieved an average return on equity of 1.87% in the last decade with net profit growing nan% a year on average. In terms of operating efficiency, its cost to income ratio reached 63.2% in 2018, compared to 53.7% average in the last decade.

Equity represented 7.58% of total assets or 13.9% of loans at the end of 2018. Bank of India's non-performing loans were 16.9% of total loans while provisions covered some 26.0% of NPLs at the end of 2018.

Valuation

Bank of India stock traded at INR 155 per share at the end of 2018 resulting in a market capitalization of USD 4,123 mil. Over the previous five years, stock price fell by 35.9% or 8.51% a year on average. That’s compared to an average ROE of -9.30% the bank generated for its shareholders. This closing price put stock at a 12-month trailing price to earnings (PE) of x and price to book value (PBV) of 0.602x in 2018.