The Hindu Business Line : BoB reorganising into 6 biz units

BANK of Baroda is drawing its operation into six distinct units, called Lines of Business (LoB), for the purpose of better customer segmentation, Mr P.S. Shenoy, CMD, said here on Thursday.

The LoBs would take care of corporate, business, personal and rural segments separately. International operations and global treasury would each form a specific LoB.

With a view to becoming more more customer-centric, the bank has unveiled a business transformation programme."It is the bank's endeavour to position itself as a universal financial services provider, offering products and services based on the needs of customers and in all the markets that it operates," Mr Shenoy mentioned. He was addressing a banking conclave organised by FICCI and Indian Chamber of Commerce.

For the SME segment, the bank has in operation certain special schemes, offering short-and medium-term finance at softer rates. A separate infrastructure financing cell (as part of its project finance department) has been created in the corporate office. "The basic focus has been on power, roads, SEZs and telecom. There are sub-limits for each sector within the ceiling of Rs 5,000 crore. The total exposure to the infrastructure sector as of March 2004 is around Rs 2,700 crore," Mr Shenoy noted.