Bank of India announced its audited results for the Q3 FY 2017-18, following approval by its Board of Directors on February 12, 2018.
PROFIT – Q3 FY 2017-18:
NIM, COST & YIELD
v During the current year the Bank has implemented various initiatives for a Prompt Turn Around. A few of them are mentioned as under:
v Concept of Area Managers and Star Prime implemented for being more customer focused and for business development, recovery, digitization at ground level and re-activation of branches.
v Monthly Campaign called “Ghar Ghar Dastak” being organized every month for speeding up CASA, NPA Recovery and Credit disbursement.
v Special CASA campaigns “Amantran” organized with special focus on Government, Business Associates, HNIs & NRIs
v Strategy for re-balancing of portfolio in favour of RAM advances (Retail, Agriculture and MSME) and reducing exposure to Corporate sector.
v A non-discriminatory OTS Scheme called “Mission Samaadhan” formulated for quick resolution of NPAs
v Refurbishing select branches as “Star Digi” branches with high end digitalized services for tech savvy customers.
v IT initiative “Star Mahashakti” being implemented for taking the Bank’s technological capability to next level
v Focus on Digitisation and Alternate Delivery Channels such as internet Banking, Debit and Credit Cards, POS machines
v One of the premier Banks in implementing concept of Digital Village. Till now 325 villages converted into digital villages.
v Activation of 561 Growth Centers through Business Correspondents (BCs) called –“Star Points” for expanding our outreach.
v Bank of India ranked as the 2nd Most Trusted Bank in the PSU Bank category by Economic Times.
v Bank of India has been conferred “Market Achievers’ Award” in Currency Derivatives Segment amongst Public Sector Banks by NSE.
v Bank of India awarded as “Best Performer in Currency Derivative Segment” amongst all Banks’ Category by BSE.
v IDRBT Banking Technology Excellence Award, Best Bank for Managing IT Ecosystem, large Bank category.
v IDRBT Banking Technology Excellence Award, Best Bank for Electronic Payments, large bank category.
v Bank’s In-House Journal ‘Taarangan’ conferred with Prestigious ‘ABCI Magazine of the Year Award 2017’ at Mumbai
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