Vietnam
By Our Banking Bureau | 02 Nov 2001
Mumbai: Bank of India (BoI), the second largest public sector bank in India, plans to set up representative offices in China and Vietnam. The bank has already received RBIs clearance for the same. In China, the office will be set up at Shenzhen, a city in the Guangdong province, southeast China. In Vietnam, the office is likely to be located at Ho-Chin-Minh City.
BoI has 19 foreign offices in four continents, with presence in major financial centres. The bank has seven well-equipped active foreign exchange dealing rooms across the globe covering all time zones.
The overseas operations of the bank accounted for 20.31 per cent of the banks total business as on 31 March 2001.Operating profits of the banks foreign offices contributed 21.78 per cent of BoIs total operating profits during 2000-2001. The ratio of non-performing assets at foreign branches as on 31 March 2001 stood at 1.1 per cent of the total assets at the foreign branches.