Public sector, Bank of Baroda, is looking at furthering its growth potential in the State, with its Karnataka region witnessing a 30 per cent annualised growth. The overall business for the bank from the State is at Rs 8,200 crore.
The bank now proposes to set up a mid-corporate branch in Bangalore, Mr M.D. Malllya, Chairman and Managing Director, Bank of Baroda, said here on Monday. The mid-corporate branch will finance business entities with annual sales turnover of Rs 150 crore-500 crore.
Bank of Baroda plans to convert 53 of its 71 branches in Karnataka into ‘Baroda Next' branches, as part of its business process re-engineering (BPR) project. The BPR project would “totally change the way business is conducted in branches. With BPR, we hope to offer focussed customer service in these branches,” said Mr Malllya. The bank also has 54 ATMs in the State.
“We also plan to open more branches in Karnataka. This year, we hope to cross 100 branches in Karnataka,” he added. He inaugurated the bank's its new regional office premises in Bangalore, which would also house the bank's customer touch points such as retail loan factory, SME loan factory, and corporate financial services.
Bank officials also said that the M.G. Road branch has also been moved to this premises located on Brigade Road.