Bank of Baroda opens job opportunities

The first branch of Bank of Baroda (BoB), expected to open shortly in Auckland, will create job opportunities for New Zealand citizens and permanent residents with requisite aptitude and experience, Chairman and Managing Director Mangalore Devadas Mallya said.

“We envisage appointing up to 12 persons, of which perhaps four will be sent on deputation from India or other offices and branches operating overseas. The remaining will be recruited locally,” he told Indian Newslink during an interview from Mumbai last night.

Mr Mallya said applications will be processed by the bank’s Human Resources Department located in Mumbai in consultation with Satish Kumar Vermani, Managing Director of the Bank of Baroda New Zealand Limited, a subsidiary established under the Reserve Bank of New Zealand rules and regulations governing foreign banks in this country.

“The reason for our impressive growth over the past year is the re-orientation of our staff at offices and branches. Each of our 36,000 employees functions as a banker and sales and marketing executive, keen to optimise customer satisfaction among our 36 million customers and enlist new clientele,” he said.

Mr Mallya said he would expect a similar performance from the staff recruited locally for the New Zealand operations.

“New Zealand has good business potential and we are hopeful of creating a niche for our products and services. Offices and branches of Indian corporates, large, medium and small enterprises established, managed, operated and franchised by people of Indian origin and other New Zealand businesses hold promising prospects for our maiden venture there. I am confident that with the experience and expertise gained over the past 101 years, BoB will be able to create an impact in the New Zealand market,” he said.

Mr Mallya said the bank also aimed to serve the Indian community and local residents with a range of products that have proved their value in India and elsewhere.

“Apart from trade finance, corporate banking products and other conventional products and services, we would also be providing retail banking products and services,” he said.

Mr Mallya said BoB created a strong platform for state-of-the-art technology about two years ago and that the results were now beginning to show.

“We rose up to the challenges posed by the global crisis and registered higher levels of growth, bucking the trend,” he said.

Mr Mallya announced the bank’s results for the first quarter (April to June) of the current financial year, saying that the total global business of the bank on a year-to-year basis reached about $99 billion, accounting for an increase of 28.2% over the corresponding period the previous year.

An Indian Newslink analysis of the bank’s performance appears on Page 66 of this issue along with a report and photographs of an informal get-together held by the bank’s local directors and senior personnel.