For FY20, its losses reduced to Rs 2,956.8 crore from net of Rs 5,546.9 crore for FY19.
BOI stock closed 8.2 per cent higher at Rs 50.40 per share on BSE.
Its net interest income (NII) for reporting quarter declined by 6.21 per cent to Rs 3,793 crore in Q4FY20. The other income comprising fee, commission etc rose by 14.13 per cent at Rs 1,688 crore in Q4FY20.
The provisions (including for NPAs) and contingencies rose sharply to Rs 8,141.9 crore in Q4FY20 from Rs 1,897.4 crore in Q4FY19. The provision coverage ratio (PCR) of bank improved to 83.75 per cent in March 2020, up from 76.95 per cent in March 2019.
Referring to impact of Covid-19 pandemic on operations, A K Das, managing director and chief executive said it has made provision of Rs 414.4 crore for loans worth Rs 4,144.8 crore to whom regulatory asset qualification benefit has been extended.
The gross non-performing Assets (GNPAs) declined to 14.78 per cent in Q4FY20 from 15.84 per cent in Q4FY19. The gross NPAs were at 16.3 per cent in December 2019 (Q3FY20).
The net NPAs stood at 3.88 per cent in March 2020 down from 5.61 per cent in March 2019. The net NPAs were at 5.97 per cent in December 2019.
Its deposits rose by 6.65 per cent to Rs 5,55,505 crore in FY20. The share of low-costs Current Account and Savings acount deposits (CASA) in domestic deposits declined to 41.5 per cent in March 2020 up from 43.36 per cent in March 2019.
Its advances grew by 8.7 per cent to Rs 4,16,521 crore in March 2020. Bank has guided for about eight per cent growth in loans for FY21 based on recovery of activity in the second half (starting October 2020)
The Capital Adequacy Ratio (CAR) stood at 13.10 per cent as on March 31, 2020 with Tier I at 9.9 per cent. Bank is planning to visit markets in the third quarter to raise capital of about Rs 2,000 crore.
Before hitting market, bank will to show a profitable performance for two quarters (Q1 and Q2 FY21). Bank has not approached government for raising capital and will like to raise money on its own standing, Das added.