BoI says FY'08 earnings expected to be good
Bank of India expects good growth in earnings for 2007-08 and said it posted a profit of 1,250 crore till December 2007 against Rs 1,123 crore last fiscal.
By PTI |
COIMBATORE: Bank of India expects good growth in earnings for 2007-08 and said it posted a profit of 1,250 crore till December 2007 against Rs 1,123 crore last fiscal.
"We will not disappoint our stakeholders (with performance this year), even as the results will be announced on April 30," BoI Chairman and Managing Director T S Narayanasami told reporters.
The bank's 26 foreign branches have also done extremely well and contributed 35 per cent to the profit, he said.
The performance in the first three quarters in 2007-08 was "very encouraging", he said, adding that the bank has fixed a business target of Rs 31,200 crore in the current year.
Narayanasami, who was here to open a corporate banking branch, ruled out any adverse impact on the balance sheet due to the Rs 60,000-crore farm loan waiver announced by the Centre. Finance Minister P Chidambaram and his ministry have taken necessary steps in this regard after making a thorough analysis, he said.
Asked if banks anticipated a similar waiver for educational loans in the coming years, he said "it does not make sense for an educated person becoming a defaulter".
"We will not disappoint our stakeholders (with performance this year), even as the results will be announced on April 30," BoI Chairman and Managing Director T S Narayanasami told reporters.
The bank's 26 foreign branches have also done extremely well and contributed 35 per cent to the profit, he said.
The performance in the first three quarters in 2007-08 was "very encouraging", he said, adding that the bank has fixed a business target of Rs 31,200 crore in the current year.
Narayanasami, who was here to open a corporate banking branch, ruled out any adverse impact on the balance sheet due to the Rs 60,000-crore farm loan waiver announced by the Centre. Finance Minister P Chidambaram and his ministry have taken necessary steps in this regard after making a thorough analysis, he said.
Asked if banks anticipated a similar waiver for educational loans in the coming years, he said "it does not make sense for an educated person becoming a defaulter".
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