BANK OF INDIA
Bank of India (BOI) is an Indian government owned bank with headquarters in Mumbai. It is under the ownership of Ministry of Finance, Government of India. Founded in 1906, it has been government-owned since nationalisation in 1969. Bank of India has overseas presence in 22 foreign countries spread over 5 continents – with 60 offices including 5 Subsidiaries 5 Representative Offices and 1 Joint Venture.
Recently, Bank of India has agreed to purchase AXA IM’s entire 49% equity shares in BOI AXA Investment Managers Private Limited (BAIM) and raised Rs 602 crore by issuing Basel III compliant bonds.
As a Covid response, BOI formed Covid task force at all administrative office level to support staff affected by Covid, staffs with disabilities and age above 55 were exempted for physically attending office and compensation to staff in case of death due to covid.
As of year, ended 31st March 2021, BOI total income fell by 7.24 % and stood at Rs.11,476.86 crores for Q4FY21, as compared to Rs. 12,372.88 crores in Q3FY21, net profit is Rs.277.78 crores (48.95% less than Q3) in Q4FY21 against Rs. 544.20 crores in Q3FY21. CASA ratio as of March 31, 2021, stood at 41.27% compared to 41.50% as of March 31, 2020, GNPA is 13.77% & NNPA is 3.35%. As of March 31, 2021, and Net Interest Income (NII) for Q4FY21 stood at Rs. 2,936 crores, while Rs. 3,793 crores in Q4FY20.
The Q4 results of BOI were rectitude.
