All the branches of the public sector Allahabad Bank will migrate to the Core Banking Solution (CBS) platform by the end of this year.
About 961 branches have been brought under this platform and the process is expected to be completed by December 2010, says J P Dua, chairman and the managing director (CMD), Allahabad Bank.
Addressing the media after opening up of a Centralised Retail Banking Boutique (CRBB) at Bhubaneswar, he said, “About 81 percent of our business is now done on CBS platform and all branches would be brought under this network by December 2010”.
He said, the bank has 68 licenses at hand for opening of new branches over the next four months. Further expansion plans would be chalked out after opening of these branches.
Dua said, the bank has initiated steps for centralisation of various processes of retail loans through opening up CRBBs at important centres.
While the bank has opened 27 CRRBs at locations like Kolkata, Mumbai, New Delhi, Lucknow, and Bhubaneswar, another 26 such boutiques will be launched soon. He said, the bank has opened a non-syndication cell which has given good income and growth.
Along with the migration of branches to CBS platform, the bank is also perusing Business Process Re-engineering (BPR).
For that, the service branches of the bank are being converted into open branch offices.
The bank has launched a pilot project for use of smart cards under the business correspondence (BC) model and it will be replicated in other areas later.
On Orissa, the Allahabad Bank chief said, the bank attained a business of Rs 3600 crore by the end of December this fiscal with a credit-deposit (CD) ratio of 64 percent. The bank has 67 branches in the state with presence in 19 districts. However, the bank plans to open more branches to cover all the districts in the state during the next fiscal.