According to CMD M D Mallya, the bank proposes to open branches in Haveri, Hospet, Karwar, Suratkal and three branches in Bangalore during the year. He informed that the bank would concentrate on growth in areas of retail banking, SME and priority sector including agriculture in the state and improve its CD ratio significantly. It has added that the total business of the bank in the state stood at Rs 3,796 crore.
Further, Mallya informed that 72 per cent of the advances in the state was to the priority sector.and retail credit constituted 40 per cent of the advances. He said the bank also intends to set up a composite loan factory for centralised processing of retail and SME loans in Mangalore to cover the city and branches nearby. The bank's exposure to the agriculture was Rs 1,200 crore, of which Rs 282 crore were NPAs and they would be dealt with according to the procedures set by the finance ministry with regard to the farm loan waiver, he explained.
Twenty per cent of the business of the bank was through its international branches and this contributed to one-third of the banks profit Mallya informed and added that 10 more international branches would be opened in the present fiscal.
Bank of Baroda has presence in 25 countries with 71 overseas offices and one joint venture in Zambia.
