BoI eyes 50% growth in biz from South

Bank of India is aiming for a 50 per cent growth in business during the current financial year from the southern region, which has 500 branches in the four states.

As of March 2011, its total business increased 25 per cent to Rs 40,000 crore from this region as against the previous year.

The bank expects to reach the Rs 60,000-crore mark by March 2012, AA Badshah, general manager - southern region, said. On Thursday, the bank opened its 89th branch in the Visakhapatnam zone at Seethammadhara.

He said the bank was putting more emphasis on credit this year. It is setting up separate credit processing centres for SME, retail and agricultural credits.

 

In Amalapuram, it has set up a processing centre for agricultural loans and would soon open another at Vizag for SME credit.