OBC to open over 100 new branches by fiscal-end

By | October 13, 2009

Oriental Bank of Commerce, which has targeted a business growth of 21 % at the end of this fiscal, plans to focus on retail lending, agricultural credit, development loans for MSME sector, and large corporate finance to achieve the same.

T Y Prabhu, the Chairman and Managing Director of the Oriental Bank of Commerce announced here in Bangalore that the OBC is planning to set up over 100 branches across the country. This will take the total number of branches to 1500 with a total business of over 2 lakh crores within the year 2010. The bank currently reaches to 2,118 villages comprising 14.18 lakh households.

The bank is also planning to recruit around 1800 personnel at entry, mid and senior levels in order to cater to the demand for increased manpower following expansion of branches and business. This would include around 100 marketing managers and 83 Agriculture Officers. The bank which has targeted a business growth of 21 % at the end of this fiscal, plans to focus on retail lending, agricultural credit, development loans for MSME sector, and large corporate finance to achieve the same.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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