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Monday, February 20, 2012

BoB to operationalise 15 mid-corporate branches this fiscal

Bank of Baroda is planning to operationalise 15 mid-corporate branches before the close of the current fiscal.

These branches would service clients whose annual turnover ranges between Rs 150 crore and Rs 500 crore. Mid-corporate, as the name suggests, is sandwiched between the SME (small and medium enterprises, with a turnover not exceeding Rs 150 crore) and the Corporateclients, with a turnover of more than Rs 500 crore.

More branches

The bank has already opened around eight branches across the country.

Of the four such mid-corporate branches proposed for the South zone, comprising Tamil Nadu, Andhra Pradesh, Kerala, Karnataka and Puducherry, three have already been opened, one each at Bangalore, Hyderabad and Coimbatore.

The last branch that is slated to be opened in the South zone is being inaugurated at Chennai on February 22, said BoB's General Manager (South Zone), Mr S. Kalyanaraman.

The branch would be able to guide customers in forex transactions and cash dealings too, he added.

Biz volume

The bank is targeting to achieve a business volume of Rs 7 lakh crore by the close of this fiscal.


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