Bank of India declare Q3 FINANCIAL RESULTS FY13-By Sachin Murdeshwar

Bank of India declare Q3 FINANCIAL RESULTS FY13

·    Operating Profit for Q3 increased by 7.15% on a Y-O-Y basis fromRs.1732 crore to Rs 1856 crore.

·    Net Profit for 03 increased by 12.15 % on a Y-O-Y basis from Rs. 716Crore to Rs. 803 crore.

·    Asset Quality improved sequentially. Gross NPA ratio improved from3.42% in September 2012 to 3.08% in December 2012.

·    Non-Interest Income increased by 9.98% on Y-O-Y basis from Rs.852 Cr

to Rs.937 Cr.

·CASA ratio improved from 32.41% to 33.84% on Y o Y basis, an increaseof 143 bps.

·Cost to Income Ratio as at December 2012 improved to 41.61% from

42.70% as at December 2011

·Overseas Business shows a robust Y o Y grOwth of 29.84%

·Productivity, a measure of Business per employee increased fromRs.12.83 Cr during December 2011 to Rs.14.51 Cr during December2012

Mumbai 28th Jan 2013(by Sachin Murdeshwar): India's leading bank, Bank of India (BOI) has declared its final results. A K Verma, CFO, Bank of India, N Seshadri, Executive Director, Bank of India, Mrs V R Iyer, Chairperson and Managing Director, Bank of India, M S Raghavan, Executive Director, Bank of India and B P Sharma, Executive Director, Bank of India jointly released the figures at a press conference on January 28, 2013

					(Rs in crore)
Parameters	Q3	Q3 •	%age	9M	9M-              %age
	2011-12	2012-13	Growth	2011-12	2012-13       Growth
Operating Profit	1731.88 •	1855.79	7_15	4679.35	5383.41              15.05
Net Profit	716.15 '	803.48	12.15	1724.79	1992.76              15.54
	•
Non Interest Income	852.15	937.16	9.98	2354.06	2672.09              13.51
CASA %age	32.41	33.84		32.41.	33.84                          -

Ø  Global Business increased from Rs.5,40,367 crore as at December 2011 to Rs.6,29,473 crore as at 31st December,2012 (Growth: 16.49%).

Ø  Global Deposits increased from Rs.3,07,252 crore as at December 2011 to Rs.3,49,117 crore (Growth:13.63%) while Global Advances increased from Rs.2,33,115 crore as at December 2011 to Rs.2,80,356 crore as at 31st December,2012. (Growth: 20.27%).

>     CASA Deposits increased from Rs.78,571 crore in December 201 1 to Rs.87,972 crore in December 2012 (Growth 12%). CASA percentage improved from 32.41% to 33.84%.

>     Operating Profit increased from Rs.1731.88 crore in 03-FY 2011-12 to Rs.1855.79 crore in 03- FY 2012-13 (Growth: 7.15%).

> Net Profit of 03 FY 2012-13 increased from Rs.716.15 Cr as on Q3 2011-12 to Rs. 803.48 Cr as on Q3 2012-13, a growth of 12.19%.

Net Interest Income (Nil) increased from RS.2067.55 crore to Rs.2308.46 crore on Y o Y basis. (Growth:11. 65%).

>     Non-Interest Income increased from Rs. 852.15 crore in Q3 FY 2011-12 to Rs.937.15 crore in Q3 FY 2012-13.(Growth: 9.97%)

>     Net Interest Margin (NIM) stood at 2.36% for the quarter ended December 2012.

>     Business per Employee and Branch increased from Rs.12.83 crore to Rs.14.51 crore and improved from Rs.140.57 crore to Rs.150.70 crore on Y o Y basis.

>      

International Operations

> The Bank is in operation across 20 countries with 51 offices / branches.

>     The Bank opened one more branch in Tanzania and a representative office in Johannesburg has been upgraded to branch in 'September 2012.

> The Bank plans to open subsidiaries in Botswana, Canada and Brazil.

Other achievements

• The Bank added 147 branches and 158 ATMs during the year, taking the total number of domestic branch net work to 4147 and ATMs to 1838 as at 31st December, 2012.

·      As recognition of our Financial Inclusion efforts, Bank has received theprestigious `Aadhaar' Excellence Award at the hands of the Hon'ble Prime Minister.

·      The Bank has been rated by ET as the Second Most Trusted Brand in India" among the PSU banks.

·      As a Bank committed to Financial Inclusion efforts, the Bank has opened 74 lakh Basic Saving Bank A/c (No frill a/cs) and has engaged 4358 BusinessCorrespondents. The Bank has also achieved 100% Financial Inclusion in10,412 villages. The Bank has lead district responsibilities in 48 districtsacross 5 States and has sponsored 5 RRBs. 42 Rural Self EmploymentTraining Institutes and 6 ABHAY Counseling centres.

Awards & Accolades

·      The Bank has been awarded as "The Best Bank for excellence in AADHARrelated UIDAI programme of Government of India at the hands of PrimeMinister at DODU village near Jaipur in Rajasthan".

·      The Bank has been awarded the 'Outlook Money Award 2012' for "Best Education Loan" provider.

·      Bank has been awarded ET 2^nd Most Trusted Brand in India.

·      The Bank has been conferred with National Award-2011 for implementing PMEGP scheme in West Zone.

·      The Bank has been ranked Second by Ministry of MSME, New Delhi, based on its performance in lending to Micro Enterprises.

·      Bank of India received the Winners Award in International Banking TechnologyAward 2010 from IBA in the best Business Enablement Initiative category.

Way Forward

1.     Emphasis on CASA growth

2.     Expansion of SME, Retail and Rural Business.

3.     Focus on Credit Monitoring and Recovery.

4.     Inclusive Growth through Financial Inclusion.

5 Progress on I.T. Enabled Services for better customer satisfaction. 6. Focused attention on Human 

SBBJ celebrates Golden Jubilee Year with bell ceremony at NSE-By Sachin Murdeshwar

 

SBBJ celebrates Golden Jubilee Year with bell ceremony at NSE


Caption for the photograph : From left to right : MS. CHITRA RAMKRISHNA, Joint Managing Director, NSE; SHRI SANJAY K SINGH, Chief General Manager (Retail Banking), State Bank of Bikaner & Jaipur; SHRI SHIVA KUMAR, Managing Director, State Bank of Bikaner & Jaipur; SHRI ARUN BISARIA, Chief General Manager (Commercial Banking), State Bank of Bikaner & Jaipur.

Mumbai, (By Sachin Murdeshwar) : State Bank of Bikaner and Jaipur (SBBJ), an associate of the State of India, is pleased to announce that it has completed its 50 years of operations. The momentous occasion was celebrated with an opening bell ceremony at the National Stock Exchange in the presence of the management of SBBJ and the National Stock Exchange.

The golden jubilee is indeed a huge milestone for the bank considering it has come a long way since its formation on January 1, 1963. When the bank commenced its operations in 1963 it had 124 branches with a business of Rs 45 crore. Today 50 years later the bank has 1,000 branches and has built a massive business of Rs 20 lakh crore.

Talking to mediapersons on the occasion Shiva Kumar Managing Director, SBBJ said, “It an honour to be a part of this important milestone that the bank has achieved and I am truly humbled by the efforts each and every employee of SBBJ has put in over the years to build this bank to the size of what it is today. He further added, “This milestone has only given us more inspiration to take this bank to new heights and we all vow that we will raise our bar even further to make the next 50 years even more memorable one.”

Commenting on the occasion Ms Chitra Ramkrishna, Joint Managing Director, National Stock Exchange said, “It is indeed a major milestone for SBBJ and we are deeply honoured that they chose to celebrate the same at the National Stock Exchange with the opening bell ceremony. We wish SBBJ all the best and we know there are many more such milestones they will achieve in years to come.”

The Bank which recently opened its 1000^th branch is shifting its core focus to retail portfolio and is coming out with new initiatives to further strengthen its portfolio further.

Shri Ashwani Kumar is the new CMD of Dena Bank-By Sachin Murdeshwar

Mumbai, (By Sachin Murdeshwar) : Shri Ashwani Kumar, a veteran banker, has taken over as Chairman and Managing Director (CMD) of Dena Bank effective January 1, 2013 for a period of five years. A versatile banker, Shri Ashwani Kumar has a rich banking experience of over 31 years serving in Allahabad Bank and Corporation Bank.

Prior to joining Dena Bank, Shri Ashwani Kumar was the Executive Director of the Corporation Bank since December 1, 2010. His tenure in Corporation Bank spread over two years providing a distinct direction to the growth of the Bank. Before his elevation to the post of Executive Director he was working as Field General Manager, New Delhi looking after business development of Bank’s eight Zones in north.

Shri Ashwani Kumar, who has a Post Graduate Masters Degree in Chemistry, is a Certified Associate of Indian Institute of Bankers and joined Allahabad Bank in 1981 as Probationary Officer at Lucknow. He has exposure both in rural development and treasury operations, having worked as Lead District Manager and also as Head of Treasury at Integrated Treasury at Allahabad Bank in Mumbai. Before joining the Bank he had a short stint as Executive Trainee in Steel Authority of India. Shri Kumar has a vast experience in Banking both at operational level and administrative level. He has exposure both in rural development and treasury operations having worked as Lead District Manager, Sitapur, and also as Head of Treasury at Integrated treasury at Mumbai.