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Friday, May 4, 2012

Oriental Bank plans more branches in Karnataka, Kerala this fiscal

Oriental Bank of Commerce plans to increase its branch network in Karnataka and Kerala in this fiscal.

“We plan to open four branches in Karnataka and two in Kerala, as these states offer good business opportunities,” Mr Ch.S.S. Mallikarjuna Rao, Regional Head, Oriental Bank of Commerce, told Business Line.

The bank currently has 53 branches in these two states.

The bank plans to concentrate on the retail segment — both deposits and advances — this year, he said.

Karnataka has a larger share in terms of branch network with 37 branches, and the bank has 16 branches in Kerala.

About 60-70 per cent of the bank's business in Karnataka comes from Bangalore, “and that is the reason we have 19 branches in the city”, said Mr Rao.

The city offers a good potential for small and medium enterprises (SME) advances.

“We are planning to have SME segment as a thrust area,” he added.


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