BoI to make own footprint deeper in eastern India
SILIGURI: State-run Bank of India( BoI) is going to make own footprint deeper in Eastern India. In addition to opening up new branches, the PSU bank is taking many new steps to accomplish the objective.
“Eastern India is always a priority area for BoI. We are likely to have around 20-25 new branches in the region during 17-18 FY,” said S. K. Agarwal, General Manager BoI (East).
“Though not be very aggressive, but this footprint expansion will help us significantly in increasing our presence in the region as largest portion of this expansion will take place in unbanked areas ,” he added.
Out of around 5200 branches nationally, BoI has around 700 branches already operating in Eastern region. As learnt, the bank has taken a plan to add up around 200 new branches in the country during the new fiscal.
We will also increase our workforce with new employment to man these new establishments and to meet up the gaps being developed due to retirement of good number of our old staff member.
In the business front, CDR of the bank in Eastern region stands at around 45% against its national level CDR of around 70%. “Credit appetite in this region does not appear to be very high. Thus, figure wise this CDR does not show very bright picture. But the deposit volume collected here returns us gain from high demand sectors in other geographic corners of the country,” said Agarwal.
In addition to branch network expansion, the bank is also transforming villages as BoI Digital Village by establishing customer service points there with all digital channel interfacing for cashless transactions. .
The PSU has post a profit of Rs 101.7 crore in third qtr ending December 2016 against a loss of Rs 1506 in same period last FY. “We expect the picture to go even brighter during the next quarters in east as well as while country,” said Agarwal.
“Eastern India is always a priority area for BoI. We are likely to have around 20-25 new branches in the region during 17-18 FY,” said S. K. Agarwal, General Manager BoI (East).
“Though not be very aggressive, but this footprint expansion will help us significantly in increasing our presence in the region as largest portion of this expansion will take place in unbanked areas ,” he added.
Out of around 5200 branches nationally, BoI has around 700 branches already operating in Eastern region. As learnt, the bank has taken a plan to add up around 200 new branches in the country during the new fiscal.
We will also increase our workforce with new employment to man these new establishments and to meet up the gaps being developed due to retirement of good number of our old staff member.
In the business front, CDR of the bank in Eastern region stands at around 45% against its national level CDR of around 70%. “Credit appetite in this region does not appear to be very high. Thus, figure wise this CDR does not show very bright picture. But the deposit volume collected here returns us gain from high demand sectors in other geographic corners of the country,” said Agarwal.
In addition to branch network expansion, the bank is also transforming villages as BoI Digital Village by establishing customer service points there with all digital channel interfacing for cashless transactions. .
The PSU has post a profit of Rs 101.7 crore in third qtr ending December 2016 against a loss of Rs 1506 in same period last FY. “We expect the picture to go even brighter during the next quarters in east as well as while country,” said Agarwal.
