BOI to strengthen its overseas presence

Mangalore, Nov 24 (UNI) Bank of India (BOI) Executive Director M Narendra today said that the bank has decided to strengthen the Bank's overseas presence by opening more offices.

Addressing a press conference here, he said that the Bank already has its presence in 26 overseas locations and it had now got license to open more than 10 overseas branches.

He said that during the half year ending on September 30, during the current year, the bank has earned a net profit of Rs 1325 crore, registering a 79.53 per cent growth, while operating profit during the first half was Rs 2287 crore. The Total business of the bank had increased by 30 per cent and stood at Rs 2.94 lakh crore and .

that it has targeted a total business of Rs 3.12 lakh crore for the current FY 2008-09.

He said that the gross NPA has come down from 2.07 per cent to 1.53 per cent while Net NPA dropped to 0.48 per cent from 0.75 per cent. The Capital Adequacy Ratio (CRAR-Basel II) of the bank stood at 12.26 per cent while the Return on Assets (ROA) jumped from 1.15 per cent to 1.58 per cent, he added.

Mr Narendra said that the Bank was contemplating to computerized entire branches by June 2009.

UNI MA MSP SKB1905