Bank of Baroda to expand overseas network

Bank of Baroda has planned to open 10 new branches in overseas as its expansion strategy. At present bank has made its presence in 25 countries with 71 overseas offices and one joint venture in Zambia, is planning to make its presence in China, Australia, and New Zealand and have plans to open a branch in the Gulf region during the current financial year.

At the press meet BoB chairman and managing director MD Mallya told reporters that the bank will be converting its representative offices in China and Australia into full-fledged branches and open one new branch in the Gulf region. He added there is a proposal to open four more branches in Trinidad and Tobago and to open one more branch in the United States, however already branch exists in New York. This year bank has plans to open one electronic banking service unit in Abu Dhabi.

Mallya informed that bank had opened 11 branches abroad last year. He said bank gets 20 per cent of overall business from overseas branches.