Bank of India Opening

Reserve Bank of New Zealand Governor Dr Alan Bollard will inaugurate the office of the Bank of India (NZ) Limited in Auckland on Thursday, October 6, 2011.

The inaugural function will be held at the Bank’s office and first branch at 10 Manukau Road, Epsom at 10 am. An inaugural dinner for invited guests will be held at Stamford Plaza at 730 pm.

BOINZ Managing Director Nageshwar Rao Paladugu said at press time that he was awaiting confirmation from his Head Office in Mumbai regarding the visit of other dignitaries.

Our sources however mentioned that the Bank’s Chairman & Managing Director Alok Kumar Mishra, accompanied by top officials from the Head Office is likely to attend the inaugural ceremony and dinner.

Bank of India – Financials
Amt in USD Millions
Item Year ended 31st March 2010 Year ended 31st march 2011 Growth
Total Business 89,327 115,493 29.29%
Total Deposits 51,172 67,022 30.97%
Total Advances 38,155 48,470 27.03%
Total Capital 4,664 5,632 20.75%
Gross Profit 1,048 1,207 15.17%
Net Profit 388 558 43.81%
Branches (India) 3,207 3,490 8.82%
Branches (Overseas) 29 29 0.00%
Employees 39,676 40,127 1.14%
Customers 39 Million 45 Million 15.38%

Bank of India – Financials
Amt in NZ $ Millions
Item Year ended 31st March 2010 Year ended 31st march 2011 Growth
Total Business 108,086 139,747 29.29%
Total Deposits 61,918 81,097 30.97%
Total Advances 46,168 58,649 27.03%
Total Capital 5,643 6,815 20.75%
Gross Profit 1,268 1,460 15.17%
Net Profit 469 675 43.81%
Branches (India) 3,207 3,490 8.82%
Branches (Overseas) 29 29 0.00%
Employees 39,676 40,127 1.14%
Customers 39 Million 45 Million 15.38%

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