Bank of India opens branch in South Africa

13 Sep 2012 Evaluate

Bank of India (BOI) has introduced its first branch in South Africa, almost after half a century when it established its first presence in the African continent. It already has a presence in Kenya, Uganda, Tanzania, and Zambia.

The bank has registered a rise of 71.48% in its net profit at Rs 887.45 crore for first quarter ended June 30, 2012 as compared to Rs 517.53 crore for the same quarter in the previous year. Total income of the bank has increased by 17.23% at Rs 8550.03 crore for Q1FY13 as compared Rs 7293.68 crore for the corresponding quarter previous year.

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