Public sector bank Bank of Baroda (BoB) will increase its branch network to over 700 in Uttar Pradesh and Uttarakhand.
At present, the bank has a total of 662 branches in these states and at least 41 more would be added in the next 6 months. “We already have the RBI licence to open the new branches and they would be rolled out once we finalise the locations,” BoB general manager S C Ahuja told Business Standard. Besides, the bank will open 31 new ATMs to take up the total ATM tally to 250 in the zone. The deposits and advances for the 2009-10 fiscal year in the zone are estimated around Rs 25,000 crore and Rs 12,000 crore respectively. “We have registered a credit growth of 30 per cent in the MSME sector and our focus is also on the retail and traders’ segment,” he added.
