BoI FY08 earnings expected to be good

"We will not disappoint our stakeholders (with performance this year), even as the results will be announced on April 30 Chairman and Managing Director, T S Narayanasami told reporters here.

The bank's 26 foreign branches have also done extremely well and contributed 35 per cent of the profit, he said.

The performance in the first three quarters in 2007-08 was 'very encouraging,' he said, adding the bank has fixed a business target of Rs 31,200 crore, both advances and deposits in the current year.

 

Narayanasami, here to open a corporate banking branch, ruled out any adverse impact on the balance sheet due to the Rs 60,000-crore farm loan waiver announced by the Centre. The finance minister and his ministry have taken necessary steps in this regard after making a thorough analysis, he said.

Asked if banks anticipated a similar waiver for educational loans in the coming years, he said 'it does not make sense for an educated person becoming a defaulter.'