>BANK OF INDIA (FULLERTON)

Bank of India [BOI] operates in three business segments: Treasury Operations, Wholesale
Banking and Retail Banking. The bank has presence in 4 continents and 15 countries covering
financial centers, such as London, New York, Paris, Tokyo, Singapore and Hong Kong.

· Bank of India’s strong pricing power coupled with the benefit of recent CRR cuts has helped the bank to improve its NIMs. Yield on global advances has also improved by 40bps at 8.9%.

· Bank of India’s international loan book grew 23% in FY09 to 302bn [16% of loan book]. Operating revenue from international operations grew marginally by 1% to Rs 21bn on the back of slowdown of the global economy.

· The management is targeting a 22% loan growth and 20% deposit growth for FY10 while expecting the short term NIMs at 3% as there is pressure on spreads due to high cost of funds.

· The bank’s capital adequacy ratio currently is 13.01% where as NIM has been consistent over the years at 2.4%. It has a very strong asset base of 2,255bn. The management expects global business mix of around 4000bn for FY 2009-10.

BUSINESS PROFILE
Bank of India was found in 1906 and had got nationalized in 1969. With a very minimal start, the bank today has extensive branch network spread across the country to cater the needs of the people and occupies a premier position among the nationalized banks in terms of asset size & business volume. The bank has premiered in opening branches abroad and has a notable presence in various countries. The Bank has 3,021 branches in India spread over all states/ union territories including 136 specialized branches. International business now contributes ~17.82% to overall business of the bank. The bank provides a host of commercial banking products including housing loans, loans to SMEs, personal loans etc.

To see full report: BOI