BoA likely to infuse capital into Indian ops in coming months
Bank of America (BoA) on Monday said that it was likely to infuse capital into its Indian operations in the next few months.mumbai Updated: Mar 15, 2010 19:05 IST
Bank of America (BoA) on Monday said that it was likely to infuse capital into its Indian operations in the next few months.
"We are looking at injecting more capital in the coming months to boost our capital base and capital adequacy ratio," Bank of America's CFO (India), S Ranganathan said in Mumbai on Monday.
He, however, did not divulge any details about the amount of capital infusion likely nor the time-frame in which it proposed to do it.
The bank would also focus on organic growth in India, he said.
"We are focusing on organic growth in the country," Ranganathan said.
The bank plans to increase its range of products and client-base in the country through the organic route, he said.
The bank would focus on its commercial business, rather than retail banking in India, he added.