The Hindu Business Line : BoB set for core banking solution in 125 branches

BANK of Baroda (BoB) is set to bring 125 branches within the ambit of its core banking solution as part of a plan to operate on an improved technological platform.

The bank has also proposed to subsequently cover at least 1,000 more branches, a plan that will enable it cater to more customers through several service channels.

BoB, said Mr S. Vaidyanathan, GM (Eastern Zone), is keen to deliver on the strength of superior technology, for which a section of its officers are going through special training programmes. He was speaking to reporters after launching BoB's new logo in Kolkata on Monday.

The bank, it is pointed out, is currently rolling out a greater presence in overseas markets, courtesy brand new offices and conversions of representative offices into full-fledged outlets.

One such conversion will take place in Hong Kong, while a representative office will be set up in Bangladesh. BoB has operations in 20 countries through a network of more than 2,700 branches.

The bank, which already has a presence in the Gulf, has proposed to focus on the region. A branch at Jebel Ali Free Trade Zone is in the pipleline.

Focus on East: BoB's eastern region operations, Mr Vaidyanathan said, has set a business target of about Rs 7,000 crore this fiscal, representing a 25 per cent growth over the past year.

The bank, which has recently appointed Mr Rahul Dravid, cricketer, as its brand ambassador, expects to record total advances to the tune of Rs 3,000 crore or so by the end of the current year, an improvement that will be backed by a more focused lending strategy followed by the zone.

BoB is also looking at introducing more ATMs in the region; 15 of these will come up in Kolkata shortly. Smaller centres like Siliguri, which are believed to have considerable growth potential, may well be considered for expansion, Mr Vaidyanathan mentioned.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
RBI's MIFOR move spurs...
Search for floating rupee benchmarks

Rupee tad higher; securities decline

NSE new index for bank stocks

Sundaram Fin posts Rs 76-cr net profit — Conversion into bank ruled out

HDFC picks 9.8% stake in Indraprastha Medical

G-Sec auctions fully subscribed

Karnataka Bank revises FCNR deposit rates

Bank of Baroda opens 24-hour branch in Mumbai — Rahul Dravid appointed brand ambassador

BoB set for core banking solution in 125 branches

Bank of Baroda to set up arm for PD biz in Mauritius

BoB bullish on South Zone

Foreign banks eye stressed assets here

SREI launches Rs 1,000-cr fund