Bhubaneswar: The Bank of Baroda launched its new mid-corporate branch here in the city with an aim to increase its market share in the medium corporate segment.
The branch was inaugurated by Devdutt Chand, Executive Director of the Bank, at Ganganagar in Bhubaneswar on November 28 .
The state-owned Bank of Baroda has reorganised its corporate banking vertical and divided it into two units — large corporate and mid-corporate.
According to bank sources, this will help in faster processing of corporate proposals and effectively serving both customer segments.
Speaking on the occasion, Chand said, “There has been an increase in the demand for credit by mid-sized companies. With credit growth accelerating as well as economic activity picking up, we believe that there is a significant opportunity in the mid-corporate segment. So the bank is now focusing on tapping the larger range available in this segment.”
Sonam T. Bhutia, Zonal Head, Patna Zone of the Bank, discussed the importance of middle corporates.
Deputy General Manager R.K. Mohanty, who was present at the event, said that these special branches will provide customers with a wide range of solutions and ensure a faster pace time in the decision-making process.
Bhubaneswar Regional Head Rajiv Krishna and other bank officials were present on the occasion.