Bank of India (BOI) has decided to shift its focus from large and mid-corporates to retail as well as small and medium enterprises (SME) sector. Currently, large and mid-corporate business constitutes 64% of the bank’s overall portfolio and the same will be reduced to 50% over a period.
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). The formalities for acquisition have been completed upon receipt of all regulatory approvals.
