Bank of India shares plunge 9% as NPAs increase in Q4

Synopsis Shares of Bank of India fell practically 9% on Monday on the NSE as financiers responded to the slippage in net NPA throughout the January to March quarter. The bank saw a 5.32% quarter-on-quarter dive in its net NPA, its NNPA was down 18% YoY. Bank of India reported a 115% dive in combined earnings after tax for the March quarter, while likewise preparing for a capital raise of INR4,500 crore in FY24. Gross Non-Performing Assets and core net interest earnings likewise published favorable results.ETMarkets.comState-owned Bank of India (BoI) shares plunged almost 9% on Monday on the NSE, tracking weak point in the total PSU bank stocks. It was the worst-performing stock in the Nifty PSU Bank index. The stock was trading at Rs 81.30 on the NSE around 1:15 pm and was down by Rs 4.90 or 5.68% from last close. BoI shares fell on account of slippages in net NPA (non-performing possessions). The state-run bank reported a 5.32% quarter-on-quarter dive in its net NPA throughout the January to March quarter at Rs 8,053.61 crore versus Rs 7,646.19 crore in Q3FY23. The NNPA was down 18% year-on-year from 9,851.93 crore. The portion of Net Non-Performing Assets in Q4FY23 stood at 1.66% versus 1.61% in Q3FY23 and 2.34% in Q4FY22, BoI’s exchange filing stated. The bank minimized its Gross Non-Performing Assets on a Q0Q and YoY basis. For the quarter ended March 31, 2023, the GNPA stood at Rs 37,685.56 crore versus 38,884.61 in Q3FY23 and Rs 45,605.40 crore in Q4FY22. The portion of GNPA for the reporting quarter stood at 7.31% versus 7.66% in Q3FY23 and 9.98% in Q4FY22. On Saturday, BoI reported a 115% dive in its combined earnings after tax for the March quarter to Rs 1,388.19 crore, assisted
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