BoM net up 118 pc,to open 80 new branches

Addressing a press conference here,Allen C A Pereira,chairman and managing director,BoM,said the total income of the bank also jumped to Rs 1,282 crore from Rs 1,040.68 crore in the same quarter last year. During the quarter,the bank’s earnings from interest rose to Rs 1,118.87 crore from Rs 976.70 crore.

“A total of 80 new branches will be opened at strategic locations across the country. We will soon launch automated cheque deposit system at our branches,” he said. BoM opened seven branches during the quarter and the national network currently comprises 1,428 branches. All branches would be brought under the core banking system during the current year,during which the bank was eyeing 20-he added.

As many as 80 ATMs would also be opened,taking the total number to 425,Pereira said. The bank has sharing arrangements with National Financial Switch and MITR,enabling customers free access to over 40,000 ATMs across the country. Presently,the ATM card base was over nine lakh,said Pereira.

BoM will recruit around 300 persons by September,including 100 specialists,50 chartered accountants and 65 agriculture graduates. As many as 400 persons were hired in the last year,he said.

For the convenience of taxpayers,e-payment facility for tax payments has been introduced through Internet banking. BoM has enabled biometric features in a number of its ATMs,for the benefit of its 50,000 strong senior citizen customer base,the chairman said.

Continuing its focus on rural customers,the bank has established five Mahabank Self Employment Training Institutes — in Pune,Aurangabad,Nagpur,Nashik and Amravati — for providing self-employment skills to rural youth,especially women. “Also,the bank will adopt 75 villages for infrastructure development,as part of our platinum jubilee celebrations,” said Pereira.

“To help micro,small and medium enterprises tide over difficulties in the present economic scenario,BoM has implemented a special package. It includes reduction in interest rate @100 basis points for micro-enterprises borrowers,50 basis points for small enterprise borrowers and various measures to extend need-based,additional financial assistance,” he said.