The Hindu Business Line : BoI to bring down NPAs to below 3 pc

BANK of India (BoI) has announced plans to bring down its net non-performing assets (NPAs) below three per cent from the existing level of 4.5 per cent.

Addressing a press conference here on Thursday, the bank's Zonal Manager, Mr Nagesh Pydah, said the bank during last fiscal recovered Rs 763-crore, thereby, bringing down the net NPAs level to 4.5 per cent from 5.59 per cent in the previous fiscal.

According to him, the bank during the current fiscal would have a thrust on improving low-cost funds and improving domestic advances with greater focus on retail credit.

The bank is targeting to improve its share in retail credit to 28 per cent from the current level of four per cent.

Mr Pydah said the bank expects global advances to reach Rs 55,000-crore during the current fiscal. The bank is making efforts to improve the low-cost deposits by adding branches and extension counters. It is currently implementing core banking solution in all its branches across the country.

The bank has opted for Hewlett Packard as main system integrator. The major partner of HP in this project is Infosys with Finacle Core Banking Solution, he said.

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