BoI global business crosses 225,000-cr mark

Ahmedabad, Oct 26 (UNI) Bank of India, which has completed 101 years of service, has crossed a global business of Rs 225,000 crore.

At present, the BoI has 2685 branches within the country and 26 offices in foreign countries. The Reserve of India has given licences for opening up 120 new branches in India and abroad in the current financial year, Bank Executive Director K R Kamath said while addressing a press conference here today.

BoI plans to further expand its international operations and has procured licences for opening branches in Dhaka, Dubai International Finance Centre, representative office in Dubai and up-gradation of representative office in Vietnam.

The Bank has already opened a represenative office at Johannesburg in South Africa during the year and the establishment of subsidiaries in Tanzania and Canada are on the anvil. Further, expansion with new branches in UK, Cambodia, Angola, Ghana, Thailand, Saudi Arabia and New Zealand are also on the cards, Mr Kamath added.

Mr Kamath said the entire business of the Bank has been computerised and over 1,100 outlets are covered under Core Banking System (CBS). The Bank has been providing anytime-anywhere banking services to the corporate as well as individual clients covered under its CBS facilities.

He said, the Bank has recently adopted segment approach for business development wherein the service units are categorised as Resource Centre, Profit Centre, Priority Centre and General Banking depending upon the penalties available.

The Bank has won large number of awards for excellence, the latest being the second National award for excellence in lending to Micro and Small Enterprises (MSE).

The BoI has alliance with renowned Mutual Funds and Insurance Companies for market/sale of Mutual Fund and Insurance Products.

As a part of its social obligation, the Bank has adopted over 100 villages in India, including 13 villages of Gujarat, for multi-pronged development during its centenary year.

UNI