BoB set to kick off 24-hour service in select branches

To catch up with the private sector competitors, Bank of Baroda (BoB) is set to start 24-hour banking at select branches. It also proposes to keep some branches in major cities open from 8 am to 8 pm. The bank plans to launch online services by the year-end.

"On a pilot basis, three branches in Mumbai are functioning from 8 to 8. All transactions other than giving loans and taking fixed deposits are carried out till 8 pm," said Bank of Baroda officials.

About 10 more branches in the city will introduce 8 to 8 banking. The move is part of a larger transformation the bank is about to undergo.

BoB aims at a 22 per cent increase in operating profit current fiscal. It had, however, in 2004-05 posted a 7.37 per cent drop in operating profit to Rs 2,302 crore and a 30 per cent drop in net profit to Rs 676.84 crore.

Meanwhile, the public sector bank today appointed cricketer Rahul Dravid as its brand ambassador. Dena Bank and Bank of Rajasthan had appointed Juhi Chawla and Hema Malini, respectively, as brand ambassadors.

BoB today unveiled its new logo "" a double 'B' with a rising sun "" designed by the design duo, Ray & Keshav.

"The logo change denotes a fundamental change in our approach to the customer. We will launch a host of products and streamline our delivery channels globally," said Anil K Khandelwal, chairman & managing director, BoB, at a press conference in the city.

The bank is also setting up 1,000 ATMs this year and inter-connecting 1,500 of its branches through a core banking solution.