Analyst Research Report Snapshot

Title:

Bank of India | Q4FY14 Analyst Meet Update

Price:

$23.00

Provider:

IndiaNivesh Securities Pvt Ltd

Date:

15 May 2014

Pages:

3

Type:

AcrobatPDF

Companies referenced:

BOI.NS

Available for Immediate Download
Summary:

 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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