Bank of India (BOI) has floated a 100% subsidiary namely 'Bank of India (Uganda). The subsidiary has commenced its operations from June 18, 2012 in Uganda. Recently, BOI and AXA Investment Managers Asia Holdings, a subsidiary of AXA Investment Managers, part of AXA Group has completed the formalities for acquisition of 51% of the equity stake of Bharti AXA investment Managers and Bharti AXA Trusteeship Services (Bharti AXA MF).
Bank of India reported a rise of 7.18% in its consolidated net profit at Rs 2724.86 crore for the year ended March 31, 2012 as compared to Rs 2542.42 crore for the same period in the previous year. Total income of the bank on consolidated basis has jumped 30.33% at Rs 31930.19 crore for year under review as compared to Rs 24500.25 crore for the period ended March 31, 2011
