Money & Banking

Bank of Baroda eastern zone hopeful of 22% growth

Our Bureau Kolkata | Updated on August 14, 2012 Published on August 14, 2012

The eastern zone of Bank of Baroda, which includes West Bengal, Sikkim and the seven north-eastern states, expects 22 per cent growth in business this year.

According to M.L. Jain, general manager, eastern zone, Bank of Baroda, the total business for the zone stands at Rs 24,000 crore at present.

“We will focus on increasing our retail business by giving thrust on home, auto and education loans,” he told Business Line on the sidelines of a retail loan camp here on Tuesday.

The loan camp has been organised to beat the slowdown and step up the growth of retail finance in the region.

The bank sanctioned loans worth Rs 23 crore to nearly 173 customers at the camp. “We plan to organise many such camps to boost the retail loan growth,” he said.

Apart from giving its customers concessional rates of interest on home and car loans, the bank has also waived off the processing and documentation charges.

The bank is also providing its customers free personal accidental death insurance cover and free property insurance cover for its home loan borrowers at the loan camp.

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Published on August 14, 2012
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