Comments
Bank of Baroda (BoB) is planning to pool the common performing corporate assets and large non-performing assets of erstwhile Dena Bank and Vijaya Bank into its corporate financial services branches and stressed asset branches.
The public sector bank, into which Dena Bank and Vijaya Bank merged with effect from April 1, 2019, currently has about 20 corporate financial services branches. To tackle stressed assets, the bank has 18 specialised branches at the zonal level and 76 at the regional level.
Shanti Lal Jain, Executive Director, BoB, said: “We are planning to shift corporate customers of erstwhile Dena Bank and Vijaya Bank to our corporate financial services branches. In the next quarter we will be able to do this shifting.
“We are also setting up five to six emerging corporate finance branches. These branches directly report to the corporate centre. This will ensure that corporate customers are served better and we get a bigger pie of their business.”
The number of layers for credit processing originating from CFS and emerging corporate branches has been reduced to one – at the centralised processing cell (CPC) at the corporate office.
The bank is also shifting the stressed assets of the erstwhile banks to its stressed asset branches. So, big NPA accounts will be shifted to these branches for focussed resolution, said Jain.
Branch within branch
BoB is working to create a “branch within a branch” so that on the employees’ workstation the menu of BoB as well as Vijaya Bank/Dena Bank are available. This is aimed at serving the customers seamlessly. “All the three bank servers are now interconnected. So, we are seamlessly giving some of the essential services such as cash deposit, cash withdrawal, and cheque book request, among others. So, a BoB customer can go to the branches of erstwhile Vijaya Bank or Dena Bank to avail of these services.
“In addition to that, there are no charges for transfer of funds within the three (banks) as ultimately we are one. We are also working with the technology team to create a branch within a branch,” Jain elaborated.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.