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Bank of America injects $83 million into Indian operations

Bank of America has announced an infusion of $83 million into its India operations.

This capital injection will not only boost the capital base of the bank and further strengthen its capital adequacy ratio, but also help to position the bank for further growth in India. With this infusion, the tier I capital of the bank’s India branches has now increased to $466 million and boosted its total capital base to $510 million.

Colm McCarthy, president of Asian operations of the bank, said: India has had a record of delivering superior returns and I am confident that the team will continue to improve service and product offerings to our top-tier clients and generate high returns in the years to come.