BoB to open 53 Gen Next branches

Bank of Baroda (BoB) plans to convert all of its metro and urban branches across the country into sales and service outfits known as “Baroda Next” branches in a phased manner.

“The Bank has undertaken a business process re-engineering (BPR) project to transform the select branches as sales and service outfits in order to create service differentiation for our customers, particularly gen next customers. We have already converted 750 branches and the remaining will be converted this year. Of this, 53 branches are located in Karnataka,” M D Mallya, chairman and managing director said.

He said the gen next branches would help the bank increase its market share by 15-20 basis points further. Its current market share stands at 4.10 per cent. These branches would provide consistent, efficient and quality service to the young generation of customers.

BoB would also increase its branch network in Karnataka to 100 branches this year by adding 30 plus branches, he said.

The Bank, which shifted its regional office to a new swanky building on Brigade Road on Monday, has also brought retail loan factory, SME loan factory, corporate financial services and M G Road branch under one roof. It also proposes to open the mid corporate branch in the same building later this year, Mallya added.

The mid corporate branch will finance business entities with annual sales turnover of Rs 150 crore to Rs 500 crore.