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Analyst Research Report Snapshot


Bank of India | Q4FY14 Analyst Meet Update




IndiaNivesh Securities Pvt Ltd


15 May 2014





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 Analyst Meet Update Bank of India | Q4FY14 Analyst Meet Update | Bank of India’s Q4FY14 results were disappointing on all fronts except loan growth which was strong and much ahead of system growth rate. Asset quality continues to deteriorate with increase in both Gross and Net NPA along with higher fresh slippages and restructured book. Since the bank has aggressively increased its corporate loan book, we believe asset quality pressure is likely to continue for BOI for FY15 as well. At CMP of Rs 264, based on street estimates, the stock is trading at P/ABV of 0.8x and 0.7x for FY15 and FY16 respectively. We don’t have a formal rating on the stock.

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