Bank of America India operations have greatly increased the net profit of the bank in the recent years. Rapid increase in net profit and net revenue have further boost the capital base of the bank thereby strengthening the possibilities for further growth in India. As the result of the stunning reports shown by Bank of America branches in India, the world’s largest bank announced an infusion of US $83 million into its India operations. With this, the Tier I capital of Bank of America India offices has been increased to US $466 million and its total capital base to US $510 million.
A large number of new investments and outsourcing plans have been offered to the Bank of America locations in India. Several business processes such as back office operations, IT and many other banking activities are being outsourced to India as the country has a huge man power. The first Bank of America India operations were initiated in Hyderabad and the BPO operations of the bank were further extended to Mumbai. Now the BPO operations of Bank of America are mainly handled by the Gurgaon branch office. Business activities such as collection of credit cards, commercial, retail banking and transaction processing are handled by the Bank of America Gurgaon branch.
Several activities related to outsourcing are handled by the Global Delivery Center of Bank of America. The Continuum Solutions is a part of the Global Delivery Center. The bank has not only outsourced back office operations to Indian Subsidiary but they also have extended many software development projects to the IT companies in India. On the other hand, Bank of America Securities Pvt. Ltd is another Indian subsidiary of the bank where various activities relating to capital market and fixed income are handled. Those non-bank subsidiaries of Bank of America in India are referred to as BA Continuum and they offer a variety of solutions in areas like Business Processing, Knowledge Services and Information Technology.
Bank of America BA Continuum in India offers a sphere of operations that include account management, transaction processing, loan processing, collection & customer service, payments & settlements, analytics & reporting, corporate banking, technology & delivery, financial analysis, risk management, information assurance, global risks and global markets. The bank is further going to expand its operation in India in the coming years.
Bank of America India Locations
The followings are addresses of some of the major locations for Bank of America in India.
4th Floor, Logitech Park,
Tower I, Phase II
Andheri Kurla Road, Sakinaka,
Mumbai – 400072
1st Floor, Building No. 5,
Mind Space, Raheja IT Park,
HITECH City, Madhapur,
Hyderabad – 500081
4th floor, Tower B,
Sector 25, DLF Phase II,
Gurgaon – 122002
1st Floor, DLF Centre
New Delhi 110001
Phone Number: +91.11.6616.2000
Fax Number: +91.11.2371.4042
Bank of America
Bank of America operates in several countries of the world. The bank also offers locator tool to find the nearest branch located to your residence.
For more inquiries, please use the Comment Box Below and kindly help SHARE the information to your friends and colleagues on your Social Media Platforms.