Business Daily from THE HINDU group of publications
Friday, Jul 21, 2006
Business Daily from THE HINDU group of publications Friday, Jul 21, 2006 |
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Money & Banking
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Public Sector Banks BoB posts 45 pc growth in international operations Our Bureau
Mumbai , July 20 Bank of Baroda has posted a 45 per cent growth in its international operations for the quarter ended June 30. The bank has recorded 52 per cent rise in credit and 55 per cent increase in deposits for its international operations for the quarter under consideration, Mr A.C. Mahajan, Executive Director, Bank of Baroda, said. He said that though the cost of funds has increased marginally, the net interest margin has not been affected. At present, retail loans contribute 19 per cent to the bank's total credit. Bank of Baroda, at its 99th year, expects to double its business in the next year, Mr Anil. K. Khandelwal, CMD, said. The bank expects to set up 80 new branches. It plans to set up a branch at Singapore by September, Mr Mahajan said.
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