Public sector personal loan lender, Bank of India is intending aggressively to expand its branch network throughout the country. The bank plans to raise its branches to more than 3,600 from the current 3,244 and increase its ATM to 2000 from the present 953 by March 2011. This plan of the bank was disclosed by its Chairman and MD Alok Misra.
Misra also stated that all branches of the Bank of India were computerized and the local branches used core banking service (CBS). He was talking on the event of Bank Nationalisation Day and Shetkari Divas in Hyderabad while opening a function on Priority Sector Lending with particular concentration on Education and Crop Loans.
He also talked about the bank’s aims on financial inclusion. The plan involves the recruitment of 15,000 business correspondents by March 2013.
The bank has an total global business worth over Rs 4,04,000 crore including deposits exceeding Rs 2,31,000 crore and advances about Rs 1,73,000 crore. Operating profit of the bank was Rs 4,705 crore for year closing on March 31, 2010 while Net Profit was Rs 1,741 crore, Misra added.
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