Bank of India to open more branches, ATMs: Alok Misra

HYDERABAD: Bank of India (BoI) has aggressive plan for expanding its branch network to over 3,600 up from 3,244 branches and ATMs to 2,000 from the present 953 by March 2011, its Chairman and Managing Director Alok Misra said.

Misra, who inaugurated a function on Priority Sector Lending with special focus on Education and Crop Loans on the occasion of Bank Nationalisation Day and Shetkari Divas here recently said all the branches of the bank were fully computerised and domestic branches were under Core Banking.

Addressing the gathering he said the bank has ambitious plan for implementing Financial Inclusion Initiative. Under the plan, the bank will engage 15,000 business correspondents by March 2013. The Financial Inclusion Plan envisages a credit outlay of Rs 11,500 crore, a release today said.

Bank's Global business is presently more than Rs 4,04,000 crore consisting deposits of over Rs 2,31,000 crore and advances around Rs 1,73,000 crore. Operating profit of the bank stood at Rs 4,705 crore for year ended March 31, 2010 while Net Profit was Rs 1,741 crore, Misra said.

In Andhra Pradesh, the bank has plans to enlarge the branch network during 2010-11 with proposed addition of 41 new branches, from the existing 112, he added.