The Hindu Business Line : BoB to step up South presence

To increase its presence in southern India, Bank of Baroda will open 22 branches in the four southern states by the end of December 2009 (RPT December 2009). Mr G. Nagamal Reddy, General Manager (southern zone), Bank of Baroda, told Business Line here on Saturday that at present the bank has 304 branches in southern States. The bank has four licences on hand and it has applied for 18 more licences for branches in the southern states. Speaking on the loan factory concept of the bank, he said southern zone has nine such loan factories, catering to the needs of various segments. Of them, four each are retail loan factories and SME loan factories. The bank will soon open a retail loan factory at Visakhapatnam, he said. The bank has a composite loan factory in Mangalore, he said. The loan factories help in expediting the process of loan appraisals and disbursements in retail and SME segments. He said southern states are major contributors for the GDP of the country, and there is need to take benefit of growth in these four States. - Our Bureau

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