During 2007-08, the revenue from the bank's Indian operations were up 30 per cent to Rs 861.7 crore, compared to Rs 662.9 crore in the previous financial year. Bank of America attributed the rise to better margins coupled with higher volumes with net interest income rising 34 per cent to Rs 350.5 crore. Non-interest revene rose 49.5 per cent to Rs 348 crore.
"We are experiencing some slowdown in market conditions but we do expect to continue growing. The pace may not be as substantial as the last couple of years, when we doubled our profits," said Vishwavir Ahuja, Bank of America Managing Director and CEO for India.
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