BoB to leverage customer base for growth

Mangalore, July 9

Bank of Baroda, which has a customer base of around 30 million, is planning to make better use of the numbers for its growth. Using this base, the bank is planning to grow by more than 25 per cent each in SME (small and medium enterprises) and retail segments during the current fiscal.

In an informal chat with Business Line on the sidelines of the inauguration of a ‘composite loan factory’ in Mangalore on Wednesday, Mr M.D. Mallya, Chairman and Managing Director of Bank of Baroda, said: “We will use our existing base of customers for our growth.”

Explaining this, he said that the bank has come out with the ‘loan factories’ concept where it ensures expeditious processing of loan proposals. The bank, which has 27 SME loan factories, sanctioned 3,106 loan accounts aggregating Rs 5,956 crore during 2007-08. Stating that the customer base of the bank is estimated to grow by three million by March 2009, he said: “We would like to use this base for cross-selling purposes.

Taken from Business Line

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