The Hindu Business Line : BoI to focus on treasury, derivatives

BANK of India is looking at getting into opportunities such as treasury operations and derivatives trading. "This is going to be one of our key focus area for growth," Mr M. Balachandran, Executive Director of the bank, said.

In an interview to Business Line, Mr Balachandran said that there were immense opportunities and scope for growth in the domestic arena. "Our area of focus would be on derivative trading and treasury operations, which is being integrated globally. We will also be offering technology-based products and services," he added.

Mr. Balachandran, who recently took over as the ED and Chief Operating Officer (COO) of the bank, saidthe bank would have enough scope for mopping up foreign exchange earnings through its international operations. "We will be able to syndicate and extend corporate advances," he said and pointed out that an exporter, for instance, could avail himself of foreign currency loan from BoI at internationally competitive rates instead of going for a repeat export loan.

He said that the core banking solution (CBS) would be in place soon. The bank has struck a deal with Hewlett-Packard for implementing the CBS across its branch network.

"HP has also undertaken the responsibility of training our people, right from the Chairman to the DGMs on an ongoing basis," he said.

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