- New Zonal Office to boost operational efficiency across Punjab, J&K, and Ladakh
- Bank to strengthen its Lending to Retail, MSME, and Agriculture Sectors
Ludhiana, October 16, 2024: Bank of Baroda (BoB), one of India’s leading public sector banks, announced the inauguration of its newly formed Zonal Office at Ludhiana. This is another milestone emphasizing the Bank’s commitment to expanding its network in the region, providing better access to banking services and driving financial growth.
Shri Debadatta Chand, Managing Director & CEO of Bank of Baroda inaugurated the new Zonal Office building in the presence of senior executives, staff members, and valued customers.
Commenting on the inauguration, Shri Debadatta Chand, Managing Director & CEO, Bank of Baroda said, “At Bank of Baroda, our strategy is to expand Banking services to the emerging geographies of our Country with high potential and the opening of the Ludhiana Zone of the Bank is another step forward in that direction with focus on expansion and reach. This new Zonal Office will act as a catalyst to further enhance our services to the population of Punjab, Jammu & Kashmir and Ladakh with more efficiency. It will accelerate delivery of our products and services to remote areas of these States and Union Territories. We have plans to open few more branches this year and next year as we continue to grow in Punjab and Jammu & Kashmir.”
The new office is well-positioned to drive further growth, particularly in areas like retail banking, MSME sector and agriculture, which are integral to driving the local economy. It will also actively engage with the significant NRI community in Punjab through dedicated customer outreach programs tailored to their unique financial needs. To mark the occasion, several corporate social responsibility (CSR) activities were organized, including tree plantation drives as a part of green initiatives undertaken under BOB Earth. These efforts reinforce the Bank’s commitment to sustainability and responsibility towards community development.
The Bank’s Ludhiana zone covers the state of Punjab and two UTs (J&K and Ladakh) under which three Regional Offices of the Bank are located at Amritsar, Jalandhar and Ludhiana having total of 188 branches, serving 23 districts of Punjab, 6 districts of Jammu & Kashmir and 1 of Ladakh.
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About Bank of Baroda
Founded on 20th July, 1908 by Sir Maharaja Sayajirao Gaekwad III, Bank of Baroda is one of the leading commercial banks in India. At 63.97% stake, it is majorly owned by the Government of India. The Bank serves its global customer base of ~165 million through over 70,000 touch points spread across 17 countries in five continents and through its various digital banking platforms, which provide all banking products and services in a seamless and hassle-free manner. The Bank’s vision matches the aspirations of its diverse clientele base and seeks to instil a sense of trust and security in all their dealings with the Bank.
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