Mumbai, July 31, 2018 : Bank of India announced its audited results for the Q1 FY 2018-19, following the approval of its Board of Directors on July,31 2018.
PROFIT – Q1 FY2018-19:
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/Mahotsav” 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 “Swarna Dhara” – Gold Loans have been intensified.
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 Seamless “Information and communication Technology (ICT)” based basic banking services enablement in Rural & unbanked areas.
v Selected as an “Authorized bank for Yen credit transaction by GOI-MOF” for Yen credit transaction.
v Synergizing of MCB with LCB and Branches to reduce the Operational Cost.
v Focus on Digitisation and Alternate Delivery Channels: Debit cards base increased from 485 lakh as on June 30, 2017 to 544 lakh as on June 30, 2018. Internet Banking users (Retail) increased from 43.23 lakh as on June 30, 2017 to 53.75 lakh as on June 30, 2018.
v Activation of 907 Growth Centers through Business Correspondents (BCs) called “Star Points” for expanding our outreach.
The Bank has been conferred Awards in various fields as under:
v 2nd Most Trusted Bank in the PSU Bank category by Economic Times.
v “Market Achievers’ Award” in Currency Derivatives Segment amongst Public Sector Banks by NSE.
v “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 Best Corporate Social Practices: Promoting Employment for Physically Challenged and also for Support and improvement in Quality of Education from ET NOW- WORLD CSR DAY Award.
v Bank of India awarded as “The Most Efficient Bank in Kenya” by Think Business Banking Award 2018.
v Bank of India-Uganda Subsidiary awarded for “Best Company Keeping Image High Award 2018” from Indian Business Forum, Uganda.
v “Runner-up Trophy for Best Bank on AEPS implementation” by NPCI.
v “Runner up Trophy (3rd Prize) for Best Bank under – Atal Pension Yojana-Transformative Leaders Campaign.
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