Mumbai , Jan. 22
LED by a significant decline in its profit on sale of securities, Bank of India has recorded a 67 per cent drop in net profit at Rs 75.03 crore for the third quarter ended December 31, 2004, against Rs 228.54 crore in the corresponding period the previous year.
During this period, profit on sale of securities declined by Rs 154.12 crore, a release said.
Total deposits of the bank grew to Rs 7,7029 crore (Rs 6,9291 crore), while total advances increased to Rs 5,42,18 crore (Rs 4,54,22 crore).
Retail credit grew to Rs 9,540 crore (Rs 6,965 crore). Housing loans at Rs 2,332 crore constituted 5.92 per cent of non-food credit.
Priority sector advances grew by 16.50 per cent to Rs 16,147 crore, while agriculture advances increased by 15.59 per cent to Rs 5,835 crore.
Capital adequacy ratio of the bank stood at 11.9 per cent after allocating increased risk weights on housing loan and consumer credit including personal loans and credit cards portfolio of the bank.
Gross NPAs declined to Rs 3,649 crore (Rs 3,975 crore), while net NPAs declined to Rs 2,028 crore (Rs 2,177 crore).
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