Profile of Bank Of America
Bank of America is one of the oldest American Banks. The Indian arm of the Bank Of America has been operating since the 1960s. In 1999 the Bank of America had four branches in India. The bank plans to increase its product range and client base for its Indian arm. Bank of America Securities India Pvt Ltd, is a subsidiary of the Bank of America, India.
Financial performance of the Bank of America in India
The Indian arm of Bank of America registered 80 % growth in its net profit to Rs 144 crores in the fiscal year 2005 - 2006. Further, the net revenue earnings of the Indian arm of the bank rose by 60% to Rs 398.9 crores during the same period. The Asset base of Bank of America, in India, rose by 9% to Rs 6992.7 crores and return on assets grew by 2.4% during 2005-06.
The bank had zero non-performing assets (NPA) during the aforesaid period, as stated by Mr. Vishwavir Ahuja, Managing Director and Country Executive Officer, India chapter. The bank also maintained its rich history of quality service and offered highest interest. During the same period it infused capital worth US $ 175 million in to India.
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BANK OF AMERICA
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Chief Executive Officer:
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Mr Vishwavir Ahuja
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Address:
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Express Towers, 16th Floor
Nariman Point
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City:
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Mumbai
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Pin:
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400 021
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State:
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Maharashtra
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Phone No.:
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+91-22-22852882
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Fax:
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+91-22-22870981/
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