BoB to expand branching network
Kolkata: Bank of Baroda (BoB) has announced major expansion plans for its branch network, which will include 125 new branches in India. The new branches will be established during the current financial year.

The bank will also open three overseas branches in Tanzania, Malayasia and China during the year. The Tanzania and China offices were expected to start business in the coming months.
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Malaprabha Grameena Bank net profit up
Mangalore: The Malaprabha Grameena Bank, Dharwad has recorded a net profit of Rs 34.49 crore during 2003-04 as against a net profit of Rs 17.14 crore during 2002-03, registering a growth of 101 per cent. A press release here said that the total deposits of the bank stood at Rs 852.78 crore during the last fiscal compared to Rs 767.71 crore during the previous year. The loan recovery rate of the bank stood at 70 per cent during 2003-04.

The bank curtailed NPAs to Rs 68.40 crore. The bank, which has 243 branches in Dharwad, Gadag, Haveri and Belgaum districts, has computerised 180 branches. He said that all the branches would be computerised in a phased manner. The bank says that it is the first regional rural bank to introduce Kisan credit cards to farmers. During 2003-04, the bank issued 24,576 cards to the tune of Rs 83 crore. In the last fiscal, the bank credit linked 3,450 self-help groups (SHGs) to the tune of Rs 9 crore.
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Golconda Grameena Bank moves to reduce NPAs
Hyderabad: Golconda Grameena Bank, a regional rural bank (RRB) sponsored by the State Bank of Hyderabad, has chalked out an action plan to substantially bring down the non-performing assets (NPAs) further during the current fiscal year. It has reduced its gross NPAs to 9.36 per cent during the fiscal ended March 31, 2004 from a high of 16 per cent in the previous fiscal and also brought down the net NPAs to 6.32 per cent from 10.88 per cent. In a press release the bank said for the fiscal 2003-04, it has achieved a total business of Rs 151.27 crore compared with Rs 123.13 crore in the previous fiscal, recording a growth of 22.85 per cent. It posted a net profit of Rs 3.51 crore (Rs 2.13 crore), registering a growth of 65 per cent.
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