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Bank of India plans to open subsidiaries in Botswana, Canada, Brazil

New Delhi: Indian state-run lender Bank of India Monday said that it plans to open subsidiaries in Botswana, Canada and Brazil to expand its foreign operations.

However, the bank did not give a definite time-frame for the same.

The bank currently operates across 20 countries with 51 offices or branches, Bank of India said in a statement filed with the stock exchanges.

In September 2012, the bank had added one more branch in Tanzania and upgraded its representative office in Johannesburg.

On the domestic front, the public sector lender has opened 147 branches and 158 ATMs (automated teller machines) so far in this fiscal 2012-13, taking its branch network to 4,147 and number of ATMs to 1,838 in India as on December 31, 2012.

Earlier Monday, Bank of India posted 12.15% jump in net profit to Rs 8.03 billion in fiscal third quarter (Oct-Dec) from Rs 7.16 billion in the same quarter a year ago, led by rise in income earned from interest.

Copyright Contify.com

Quiz: How well do you know India's economy?

Question 1

Which of these products is India the world's largest producer of?

Poll Choice Options
  • Wheat
  • Rice
  • Milk
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