Saturday, April 13, 2013

Bank of Baroda expanding its thrust on Karnataka

Bank of Baroda expanding its thrust on Karnataka
Shri S.S. Mundra, Chairman & Managing Director, after taking over the reins of Bank of Baroda, is in Bangalore to visit Baroda Manipal School of Banking, a collaborative venture of Bank of Baroda to educate and train potential officers for a year before inducting them as officers in the Bank.  It operates on the model of ‘educate, train and hire’ instead of conventional pattern of ‘hire and train’.

Speaking on the occasion, Shri Mundra shared the aspirations of the Bank and the emerging opportunities for career growth in the Bank.  He emphasized that the quality, the skill sets and the professional commitment of human resources in the banks in future will be the crucial differentiator in delivering better value to the customers.  Hence, the potential employees are urged to acquire the necessary skill sets and knowledge so as to meet the future challenges.

Later during the day Shri Mundra reviewed the performance of Karnataka and Andhra Pradesh and provided the strategic guidance to equip the Zone with necessary wherewithal to take the growth of the Bank to the next level.  Speaking on the occasion, Shri Mundra emphasized the need to share the operational know-how with customers for extensive use of technology in availing services of the Bank.  He outlined that the Bank has been working for the last few years to build the capacity across the enterprise to not only open new brick and mortar branches but also to supplement them with onsite / offsite ATMs and POS terminals, to extend its reach to the customers.

As part of Financial Inclusion, the Bank has set up new touch-points at potential villages / centres to work as delivery channels.  Financial literacy and sharing of knowledge with the customers to make full use of technology has been an ongoing process.  With the new set of branches and product capabilities and improved process transformation, the Bank will be in a position to deliver improved quality to the consumers. Among other efforts, the Bank has been focusing on harnessing the potentiality of developments taking place in Karnataka and Andhra Pradesh.  Every strategic initiative reaches these two states on a priority to play a critical role in the development of two important southern states.  The visit is expected to renew the relationship of the Bank with key customer groups that will improve the rapport of the Bank.

Speaking about the Bank’s presence in Karnataka, he reinforced its thrust and informed that way forward, the Bank is planning to open 10 new branches and set up 55 ATMs to strengthen access to the Bank.  The Bank is envisaging eventually setting up onsite ATMs at all branches in the State.

As of now, the Bank has a network of 85 branches, 59 ATMs and 13 ultra small branches in Karnataka.  Looking to the developmental potentiality of the State, the Bank is renewing its thrust to expand its operations in Karnataka in particular and the Zone in general.