Date:18/02/2005 URL: http://www.thehindubusinessline.com/2005/02/18/stories/2005021802190600.htm

Back BoB on the prowl for global partners

Our Bureau

`BoB would not merge with other banks. We will instead wait for others to join hands with us'.

Coimbatore , Feb. 17

BANK of Baroda (BoB) is on the hunt for a strategic alliance with a couple of Indian banks to expand its base in the global arena.

The Executive Director, Mr K. Ramakrishnan, who was in the city in connection with the Diamond Jubilee Celebration of its branch here, told press persons that the bank was focused on strengthening its overseas presence.

BoB presently has 65 offices abroad. These include branches, offices and joint venture agreement such as the Indo-Zambia BankMr Ramakrishnan said the bank was interested in similar joint venture relationships and was in dialogue with a few others for two or three different centres.

While BoB is expecting to get the license for opening a branch at Singapore, the Bangkok branch is expected to become operational by March. Overseas centres may come up 13 places including Houston in Texas, Trinidad and Tobago, Canada and China.

To a query on mergers and acquisitions, he categorically stated that ``BoB would not merge with other banks. We will instead wait for others to join hands with us. We are looking for alliances in the South and East, where our branch network is not strong enough. Geographical synergy would be ideal for expansion and growth.''