Sunday, May 23, 2010

Bank of Baroda opens 100th branch in Chandigarh region

Chandigarh region gets 100th branch of Bank of Baroda

Chandigarh, January 16
Bank of Baroda today opened its 100th branch in Chandigarh Region in sector 26, grain market, Chandigarh.
Chief Guest at the occasion, Ajit M Saran financial commissioner and principal secretary to Government of Haryana, inaugurated the branch.
In his address to the gathering, Saran congratulated Bank of Baroda for carving yet another landmark in the chapter of Indian banking. “Bank of Baroda is a common man’s bank that is serving people economically aiming at all around development,” he said.
R.K. Bakshi, Executive Director, Bank of Baroda, was the guest of honor and presided over the function. He accompanied Saran in inaugurating the branch.
Talking at the occasion RK Bakshi, Executive Director said that the Bank of Baroda has featured among 50 India’s Most Valuable Brands (2009) by a leading global brand valuation firm, Brand Finance.
“The bank also features in the elite club of nine banking and finance companies in the list. Bank of Baroda has achieved 34th position as against its 39th position last year. The brand is now valued at 466 US million $, close to 11 percent increase from last year. The Brand Finance IMVB study indicates that as long as brands continue to reinvent and deliver good value for money, they will do well,” Bakshi remarked.
In his welcome address DGM S.K. Goyal highlighted performance of Chandigarh Region. He said that this newly opened branch would provide all modern day facilities to the people.
“It is linked with core banking solutions and has state-of-art technology. The ambience of bank has redefined the customer convenience in Bank of Baroda. At BOB, we do not have only financial targets, rather our jobs are defined by the social commitments entrusted on us,” he said.
He added that region’s total deposits have increased from Rs.3689 crores as on 31.03.09 to Rs.4257 crores as on December 31, 2009, registering a growth of 15.40 percent. Region’s advances have increased from Rs.2624.47 crores to Rs.2883.81 crores during the same period registering a growth of 10.15 percent.
S.K. Bhargava, General manager (north zone) mentioned that Chandigarh region has always been a great contributor in the business growth of the bank.

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