Bank to add 1,500 ATMs by 2007

Bank of Baroda (BoB) would add over 1,500 automated teller machines (ATMs) by the end of 2007.

BoB has a network of around 500 ATMs across the nation which are mostly in metro and urban areas. However, BoB has no plan to downsize the existing number of branches with the upcoming ATM network.

K Ramakrishnan, BoB executive director, said: "A larger ATM network will help us in reducing rush at branches for cash withdrawal and will enable us to serve the customers at desk in a better manner. We are not planning to substitute ATMs with smaller branches because faceless banking is not possible in India. Even after 20 years from now bank branches will have its own importance."

BoB is planning to rationalise its banking operations by merging banks in nearby areas with lower business volumes. BoB also plans to add new branches wherever business opportunity lies.

"We are not only planning to close down branches with unviable business but also planning to open new branches wherever the opportunity exits. However, we have not set any targets of number of branches to be opened," said Ramakrishnan.

BoB has plans to open seven branches in Ahmedabad by the end of 2005.

"We could have done the ATM expansion earlier but we want to carry it with our core banking solution project. At present we are concentrating on information technology driven business transformation programme to be implemented in all our branches. The ATM expansion will supplement out programme," said Ramakrishnan.