The Hindu Business Line : BoB plans larger overseas footprint

The expansion of overseas branches for a larger footprint is likely to be completed by next fiscal and the bank is looking at setting up branches in Canada, West Indies, New Zealand, Bahrain, Qatar, China and South Africa.

Life insurance foray

Addressing a press conference here, the Managing Director of Bank of Baroda, Dr. Anil K. Khandelwal, said that the bank's expansion would be multi-pronged and is now scouting for joint venture partners for life insurance foray, and foreign partners for bank's asset management and credit card businesses.

Launching its retail loan factory, its 11th in the country here, Dr Khandelwal said that they were also scouting for a strategic partner for share broking and online trading business arms.

Referring to the bank's branch expansion, he said that the RBI has accorded clearance for about 100 banks, and of this, about 25 new braches are poised to come up in the South. Though there is no requirement for additional funds, if need arises, the bank would consider raising about Rs 1,000 crore as tier-II capital.

The loan factory is an innovative retail delivery model designed to provide a unique experience to the bank's customers, adding to their convenience.

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