The Hindu Business Line : Bank of India eyes Rs 2,500-cr biz in Kerala

Addressing a press conference here on Tuesday, Mr Babu V. Mathew, Zonal Manager, said that plans were afoot to reach a business of Rs 2,000 crore in the State by September 7, the Foundation Day of the bank.

The bank has plans to increase the total credit in the State to Rs 1,300 crore with main focus on agriculture and other priority sectors. It has targeted deposit mobilisation of Rs 1,200 crore from the State during the current fiscal. The idea is to achieve maximum business from the semi urban and rural areas where the bank has strong presence, he said.

Impressive growth

Mr Mathew, who assumed charge as Zonal Manager recently, said the Kerala Zone has achieved impressive growth in all parameters exceeding the targets in 2005-06 fiscal. The total credit went up by 40.27 per cent; priority sector credit by 56.30 per cent; SSI credit by 18.43 per cent; agriculture credit by 46.88 per cent and educational loans by 73.48 per cent.

The credit-deposit ratio of the bank in the State is 97 per cent and the Kerala Zone is aiming a credit-deposit ratio of 100 per cent. The bank has plans for infrastructure financing and tourism-related projects in the State.

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