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Wednesday, October 3, 2012

Bank of Baroda expects to set up 100th overseas branch soon

Bank of Baroda, with 96 branches abroad, will soon take the number to 100 in the near future, according to Executive Director P. Srinivas.

He was addressing customers here on Wednesday after inaugurating a regional office of the bank, the second in the State after Hyderabad. He said 60 branches in coastal districts from Srikakulam to Nellore would be under the jurisdiction of the regional office. The branches in the Telangana and Rayalaseema regions would be under the Hyderabad office.

He said the bank runs 3,988 branches in the country and its total business had touched the Rs 7,00,000-crore mark. He said the bank was expanding its branch network and had recruited 3,000 employees last year. Before April 1, 2013, 2,500 officers and 3,500 clerks would be recruited by the bank, he added.

Srinivas said global business accounted for 28 per cent of the total, which he expects to increase in the coming years. General Manager M.M. Reddy, in charge of the Karnakata-AP zone, said the Visakhapatnam regional office would play a vital role in the bank’s growth.

The coastal AP branches of the bank accounted for Rs 3,856.61 crore, with deposits being Rs 1497.83 crore and the rest advances. The bank had opened 10 branches last year in the region and ten more would be added this year. It had set up 29 ATMs in the region.

He said the bank is planning a regional office in Vijayawada.


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