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Bank of India opens corporate banking branch

Staff Reporter

COIMBATORE: Bank of India has inaugurated its Corporate Banking branch here, which is the 14th such branch of the bank in the country.

Chairman and Managing Director of the bank, T.S. Narayanasami told presspersons here on Saturday that the branch would cater to large and medium-sized corporates.

Qualitative aspect

The bank would focus on qualitative aspect of business this year.

With a likely slowdown in economic growth, the bank had taken this year for consolidation, he said.

A release from the bank said the bank had 3,000 branches and a business mix of Rs. 2,60,000 crore. It had 26 foreign branches.

In Tamil Nadu, the bank had a network of 146 branches, including 84 in Coimbatore zone.

The Chennai and Coimbatore zones had a combined business mix of Rs. 10, 450 crore.

The bank’s financing in Coimbatore zone, which covered 19 districts, focused on all major segments such as agriculture, small and medium-scale enterprises (SMEs) and textiles. It had a specialised branch in Tirupur for the SME sector.

The total deposits in the zone stood at Rs. 1,794 crore and advances at Rs. 2,161 crore.

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