BoB's south zone targets 28% growth in business

Bank of Baroda (BoB)'s south zone units have targeted a growth of 28 per cent in total business during the current financial year. BoB has also roped in Indian cricketer Rahul Dravid as brand ambassador of the bank.

Addressing mediapersons on the launch of the bank's new logo 'The Baroda Sun', T V Lakshminarayanan, zonal manager, BoB, said the zone plans to grow its advances by 45 per cent to Rs 6,500 crore and deposits by 20 per cent to Rs 7,425 crore during the current fiscal.

The total business (deposits, advances and FCNR-based advance) of south zone was Rs 10,900 crore, of which deposits stood at Rs 6,167 crore and advances came to Rs 4,477crore as on March 31, 2005.

Bank of Baroda has a strong presence in Tamil Nadu and Andhra Pradesh with 104 branches and 72 branches respectively.

Karnataka has 44 branches while Kerala has 41 branches. In the current year, BoB will open three more branches in Karnataka and one branch each in Kerala and Tamil Nadu.

Talking about the new logo, Lakshminarayanan said it was a signal that they are preparing for a new business paradigm.