NIM expected to improve from Oct-Dec quarter

Bank of India (BOI) has a clear focus on CASA growth and opening 6,000 accounts daily.

- Rajneesh Karnatak, MD & CEO, Bank of India

Rajneesh Karnatak, MD & CEO, tells Mahesh Nayak that core net interest income (NII) will drive future profitability. Excerpts:

What is your strategy on CASA?

We have maintained a strategic focus on CASA growth, achieving ₹6,000 crore year-over-year (y-o-y) growth despite a slight decline in the ratio to just below 40%. To drive growth, we have identified 1,000 HNI-focused branches (maintaining an average quarterly balance of ₹5 lakh and more per account) and appointed 82 resource managers, signed over 200 MoUs with governments and PSUs, and are opening around 6,000 CASA accounts daily. While metro branches face pressure in maintaining CASA numbers, we have enhanced product offerings, improved customer service, and expanded our branch network with a focus on semi-urban and rural areas. Currently, 66% of our branches are in these locations and they remain strong in CASA.

How has product bundling impacted CASA?