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Today Date : Friday, June 21, 2024

Bank of Baroda opens four mid-corporate cluster offices

Bank of Baroda opens four mid-corporate cluster offices

Bank of Baroda (Bank), has announced that it has opened four mid-corporate cluster offices spread across four zones – in Mumbai, New Delhi, Chennai and Kolkata.
Each mid-corporate cluster offices will oversee a set of specialised branches in each zone catering exclusively to mid-sized corporates. 

These branches will provide a comprehensive range of solutions and will ensure a faster turnaround time in the credit decision making process. The mid-corporate vertical caters to companies seeking credit facilities of up to Rs 250 crore, while the large corporate vertical handlesbusiness above that.

Debadatta Chand, Executive Director, Bank of Baroda said, “There is an increase in demand for credit by mid-sized companies; at the same time this segment is largely untapped. Our focus is on building a quality mid-corporate loan book in a calibrated and sustainable manner. The aim is to grow our mid-corporate portfolio in double digits in FY2023.”