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BoB to open five more new branches abroad, recruit 3,000

Vadodara, July 03, 2009

Public sector Bank of Baroda said it will open five more branches abroad this financial year and will recruit about 3,000 people in this year.

BoB will open five new branches in Uganda, Trinidad and Malasiya during 2009-10, BoB chairman and managing director M D Mallya said. The bank is also going to recruit 3,000 employees including 1,000 officers this year, Mallya said. BoB had opened four new branches in Guanghou (China), electronic banking unit at Mussaffah (UAE) and branches of subsidiaries at Kawempe (Uaganda) and Nakuru during 2008-09, he pointed out. Moreover, Mallaya said talking to PTI, Bank of Baroda, Indian Overseas Bank and Andhra Bank will also float a joint venture for opening a branch in New Zealand.

The bank has 36 million customers in 25 countries. Mallya was in the city today to attend the 13th annual general meeting of the bank, where he declared 90 per cent dividend for the shareholders. On the banks business plan for 2009-10, he said, the bank would continue to perform with thrust on growth with quality by focusing on low-cost deposits and prudent management cost of resources and by making every possible effort to protect the asset quality with affirm control on the process of credit origination.

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