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BoI to take call on raising Rs 2,200 cr capital by yr end

The bank has set a target of Rs 8 lakh crore business during this fiscal.



Coimbatore: Country's fourth largest PSU lender Bank of India will take a call on raising Rs 2,200 crore capital by year-end, according to a top bank official.

The bank is in a comfortable position now and the required capital infusion of Rs 2,200 crore could be borrowed from the government, Vijayalakshmi R Iyer, Chairperson and Managing Director, Bank of India (BoI) told reporters.

The bank would need Rs 6,000 crore to meet Basel II and III norms, she added.

BoI has a healhy Capital Adequacy Ratio (CAR) of 11.02 per cent and net NPA (Non-Performing Asset) of 2.06 percent and deposit ratio of the domestic business stood at around 66.17 per cent, Iyer said.

Referring to BoI's performance, she said global business is more than Rs 7.24 lakh crore, comprising deposits of over Rs 4.15 lakh crore and advances of Rs 3.09 lakh crore as on June 2013.

The bank has set a target of Rs 8 lakh crore business during this fiscal, Iyer said.

The bank, with 4,355 branches at present, has aggressive plans for expanding the network and open 325 branches this fiscal. Its total number of ATMs, which is 2,452 at present, would also to be increased to 3,890 by March 2014, she said.

On the proposal to open all Women's bank, she said BOI has already opened such banks in 44 zones out of 50 and another six would be opened shortly.

PTI

From Zee News

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