Money & Banking

Bank of Baroda set to score a ton in AP

Our Bureau Visakhapatnam | Updated on March 17, 2011

New branch on Monday will take count to 100; 17 more planned this year

Bank of Baroda is planning to open 80 more branches during the next financial year (2011-12) in South India, 17 of them in Andhra Pradesh, according to Ms Usha Ananthasubramanian, the General Manager (South zone).

She spoke here on Thursday at the inauguration of two new branches at NAD Kotha Road and Gajuwaka. The NAD branch was inaugurated by Mr M.V.V.S Murthy, the president of GITAM university, and the one at Gajuwaka was opened by Mr B. Sreedhar, the Vice-chairman of the Visakhapatnam Urban Development Authority (VUDA).

Ms Usha said the bank had so far added three branches in Andhra Pradesh during March: one at Amalapuram in East Godavari district and two here on Thursday, taking the total number of branches in the State to 99. “This is the cricket season, as the World Cup is going on. We are therefore on 99 in Andhra Pradesh. In cricket there is great tension when a batsman is on 99. However, we are sure to reach 100 on Monday when the Alwal branch in Hyderabad will be opened. We will score a century in AP without a doubt,” she remarked in a lighter vein.

During the current financial year, she said, three more branches would be added in Andhra Pradesh – one at Alwal on Monday, the second at Rajahmundry and the third at Adoni. She said the bank was striving to provide the customers with the best service, making use of technology and other tools. “We mix high tech with personal touch to cater to the needs of customers,” she said.

Mr B. Srinivasan, the Deputy General Manager in charge of AP, said the deposits in the State amounted to Rs 4,615 crore and the advances Rs 9,079 crore, with the credit-deposit ratio at 197 per cent.

More credit

Mr. B.V Rama Rao, the president of the Federation of Andhra Pradesh Industries, requested for greater credit disbursement to the small and medium-scale industries and micro units.

Mr M.V.V.S Murthy wanted the bank to expand further its branch network in the north-coastal districts, especially Visakhapatnam.

The managers of the two new branches – Mr Srinivas and Mr Suryanarayana - also spoke.

Published on March 17, 2011

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