The Hindu Business Line : BoB to open 10 new branches overseas

Ahmedabad, July 18 Bank of Baroda, the fourth largest public sector bank with a customer base of 30 lakh, will open 10 new branches overseas this year as it completes its centenary on July 20, the Chairman and Managing Director, Mr M.D. Mallya, has said .

BoB was founded on July 20, 1908, at Baroda (now Vadodara) by the then Maharaja Sir Sayajirao Gaekwad III, ruler of the princely State of Baroda.

The bank, which currently has 72 overseas branches in 25 nations, will open new ones in New Zealand, Australia, Canada and Malaysia, besides six other countries. It had opened 12 overseas branches last year, he told reporters here on his maiden visit to Gujarat after taking charge on May 7.

While profit from overseas operations increased by 25 per cent, BoB’s business abroad went up by 22 per cent in 2007-08.

With 150 new branches planned in India, the total number of domestic branches would reach 3,000 this year when it expects to add 25 lakh new customers.

The bank expected expects to register a 22 per cent growth this year.

Related Stories:
BoB: A journey spanning 100 years
BoB plans opening 10 overseas branches
BoB aims at Rs 2.45-lakh turnover; plans expansion abroad
BoB plans Singapore offshore unit
BoB plans offices in Thailand, Singapore; awaits approval for Texas branch
BoB to open China branch in August
BoB to leverage customer base for growth
BoB plans to open four new branches

More Stories on : Overseas Investments | Public Sector Banks

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

Stories in this Section
Rupee gains due to easing of oil prices

Forex reserves up $123 m on revaluation

Allahabad Bank’s net profit slips 53%

General insurers bound to deduct tax on interest on compensation: HC

RBI moves forex assets to ‘safer’ avenues

Rabobank launches $100 m PE fund

OBC hikes PLR by 50 bps

Bond yields fall

Call rates steady

BoB to open 10 new branches overseas

Bank unions call for strike on August 20

Helping rag-pickers to become entrepreneurs

Difficult times ahead, says Deepak Parekh