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Bank of India global advances rise to Rs 22,939-crore
Our Banking Bureau
MUMBAI, April 11: The Bank of India has recorded a 25.10 per cent growth in its global advances for the year 1997-98, according to the provisional data released by the bank. Global advances increased by Rs 4,602 crore to reach a level of Rs 22,939 crore. BoI's domestic credit expanded by 23 per cent (Rs 3,475 crore) to Rs 17,374 crore. The deposits with the bank also grew comfortably though at slightly lower levels. The global deposits touched a level of Rs 38,386 crore or an increase of Rs 6,414 crore (20.06 per cent) growth during the year ended March 31, 1998. Domestic deposits grew by 15.31 per cent in 1997-98, thus raising the deposits from Rs 26,240 crore last year to Rs 30,258 crore this year. Deposit growth and credit expansion during the year 1997-98 has been the highest recorded by the bank in the recent past, said a press release.During the previous year (1996-97), corresponding growth rates in deposits at 16.2 per cent and credit expansion at 17.6 per cent were recorded by the bank. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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