Bank of India is eyeing 10-12 per cent growth in advances in the current fiscal year (FY23) with corporate loans yet to pick-up. The bank's year-to-date (YTD) loan growth stood at about 5 per cent mainly driven by Retail sector advances, Agricultural and MSME loans (RAM).
The bank's gross advances (global and domestic) stood at Rs 4,77,746 crore at end-June 2022. In the first quarter ended in June of the current fiscal year, the lender registered a decline of 22 per cent in net profit at Rs 561 crore as against Rs 720 crore in the year-ago quarter.
Bank of India offers wide range of services such as Personal banking, Corporate, Rural, MSME, Retail, NRI services, Cards/ATM etc.
