BoB aims at Rs 4200 cr business in state

Bank of Baroda (BoB), the third largest public sector bank in the country, has set a target of Rs 4200-crore business in Orissa during the current financial year. This is 28 per cent more than the business of Rs 3275-crore achieved by the bank last year.  

The bank has already crossed the business of Rs 3500-4000 crore in the state by the end of December. This includes Rs 1490-crore advances and Rs 2570-crore deposits. “We are confident to achieve our target by the end of the financial year”, said the bank’s Assistant General Manager (Orissa Region), M. Bhuyan.

The nationalised bank opened its 61st branch at Bhanjanagar, the sub divisional head quarter town in Ganjam district, on Thursday. The new branch was inaugurated by sub collector (Bhanjanagar), Pabitra Mandal. BoB now has five branches in Ganjam district. These include two branches in Berhampur and one branch each at Chhatrapur, the district head quarter town and Gopalpur-on-Sea, the tourist resort town in the district.

BoB, at present, has 61 branches and 18 ATMs spread over 22 out of 30 districts in state. The bank has opened 9 branches including two rural branches in the first ten months of this financial year and plans to open another branch at Phulabani very soon.

All the branches have Core Banking Solution (CBS) facility and several other advance features like the Real Time Gross Settlement (RTGS) and Net Electro Fund Transfer (NEFT) and Internet banking.

Based on the descent network of branches and advanced technology platform, BoB is capable of providing almost all kinds of financial solutions to its customers, Bhuyan said. The bank is also committed to fulfill requirements of rural, agriculture and weaker section of the society, he added.