Close on the heels of the formal inauguration of Bank of Baroda NZ’s operations in the country earlier this year, the bank’s management has announced the opening of two new branches.
Bank of Baroda NZ Managing Director Satish Vermani told Indian Weekender last week that the bank’s board had approved the expansion of the bank’s operations with two new branches – one in Auckland and the other in Wellington.
“The second branch in Auckland after our Dominion Road head office and branch will be either in Papatoetoe or somewhere in South Auckland while we are looking at a new branch in Wellington,” Mr Vermani said.
Bank of Baroda Chairman and Managing Director M D Mallya had earlier told Indian Weekender during his visit to Auckland for the bank’s formal inauguration that following the successful early run the bank’s operations had here, it wouldn’t be long before new branches were opened.
Though he had not mentioned a time frame, he had mentioned it would be “soon”. But obviously, the Indian management has been impressed with the its subsidiary’s progress here for having encouraged its board to give the green light so early.
Bank of Baroda is the first Indian bank to open its doors in New Zealand.
