MoneyWorks4Me

Bank of India plans to raise Rs 540 crore more from non-core asset sale

18 Aug 2016 Evaluate

In order to increase capital base, state-run Bank of India has raised Rs 540 crore through monetisation of its non-core assets so far in 2016-17 and is planning to raise a similar amount in the rest of the year.

In June, the bank had raised Rs 540 crore by selling 18 per cent stake in life insurance joint venture with Dai-ichi and Union Bank of India to the Japanese firm.

Bank of India offers wide range of services such as Personal banking, Corporate, Rural, MSME, Retail, NRI services, Cards/ATM etc. The bank has 4963 branches in India spread over all states/ union territories including specialized branches. These branches are controlled through 54 Zonal Offices.

Peers
Company Name CMP
State Bank Of India 955.90
PNB 116.55
Bank Of Baroda 237.60
Canara Bank 120.20
Union Bank Of India 171.50
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