India Infoline puts 'add' on Bank of India
India Infoline has upgraded Bank of India’s rating to ‘add’, citing higher earnings visibility and relative stability in turbulent times.
By ET Bureau |
Bank of India
cmp: Rs 296.10
target price: RS 322
India Infoline has upgraded Bank of India���s rating to ���add���, citing higher earnings visibility and relative stability in turbulent times. ���Bank of India is confident of maintaining high-quality earnings growth with a strong focus on key operating ratios. BoI expects loan growth of 24% in FY09, driven by strong demand for rupee funds by domestic corporates,��� the broking outfit said.
���The cut in deposit rates, along with a BPLR cut, should enable it to keep its net interest margins intact. Its AFS investment portfolio would benefit from falling bond yields, and we expect its fee income to grow in sync with loan growth,��� it added.
cmp: Rs 296.10
target price: RS 322
India Infoline has upgraded Bank of India���s rating to ���add���, citing higher earnings visibility and relative stability in turbulent times. ���Bank of India is confident of maintaining high-quality earnings growth with a strong focus on key operating ratios. BoI expects loan growth of 24% in FY09, driven by strong demand for rupee funds by domestic corporates,��� the broking outfit said.
���The cut in deposit rates, along with a BPLR cut, should enable it to keep its net interest margins intact. Its AFS investment portfolio would benefit from falling bond yields, and we expect its fee income to grow in sync with loan growth,��� it added.
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