NEWS & ADVICE : PERSONAL LOAN
Bank of India on aggressive branch expansion plans
By Vaibhav Aggarwal
Jul 23, 2010
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Public sector lender, Bank of India is planning aggressively to widen its branch network across the country. The bank aims to take its toll of branches to over 3,600 from the existing count of 3,244 and raise its ATM count to 2000 from the current 953 numbers by March 2011. This aim of the bank was revealed by its Chairman and Managing Director Alok Misra.

Misra also said that all branches of the bank were computerized and the domestic branches were under core banking service (CBS). He was speaking on the occasion of Bank Nationalisation Day and Shetkari Divas in Hyderabad while inaugurating a function on Priority Sector Lending with special focus on Education and Crop Loans.

He also addressed the gathering about the bank's plans on financial inclusion. The plan reads the appointment of 15,000 business correspondents by Marhc 2013.

The bank has an overall global business worth more than Rs 4,04,000 crore consisting deposits of over Rs 2,31,000 crore and advances around Rs 1,73,000 crore. Operating profit of the bank stood at Rs 4,705 crore for year ended March 31, 2010 while Net Profit was Rs 1,741 crore, Misra said.


 


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