OBC Inaugurates 1445th Branch in Bangalore

Oriental Bank of Commerce, one of the leading Public Sector Banks, headquartered in New Delhi, has currently total business of over Rs.1, 86,000 Crores. The Bank has a branch network of 1444 branches and 58 extension counters and 910 ATMs all over India.
Shri. T. Y. Prabhu, Chairman & Managing Director of Oriental Bank of Commerce inaugurated the 1445th New Branch Office and ATM at BTM II Stage, Bangalore.
 Addressing the media Sh. T. Y. Prabhu , Chairman & Managing Director informed that the business-mix of the Bank has increased from Rs.148489 Crores (30.09.2008) to Rs. 1,84,425 crores as on 30th Sep 2009, registering a growth of  24.20% (YOY). Aggregate Deposits grew by 23.50% (YOY) from Rs.87368 Crores on 30.09.2008 to Rs. 107897 Crores, while Gross Advances showed growth of 25.21% (YOY) Rs.61121 Crores to (30.09.2008) to Rs. 76527 Crores.
He further informed that the Bank has leveraged its IT capability of 100% computerization on Core Banking Solution platform offering an array of IT based products viz., Internet Banking, Electronic Remittance facilities through RTGS/NEFT, Online Education Loan, E-Shoppe, e-taxes, Online Trading of shares, SMS alerts, Proton debit cards, Cashmate cards for students and third party mutual funds.
The Bangalore Region Covers 36 branches having a branch Net work of 24 Branches in Karnataka and 12 Branches in the State of Kerala. OBC has presence in 7 districts of Karnataka and 7 districts in Kerala.  Out of 36 branches 6 branches are situated in semi urban and rural areas. The Region has a Business Mix of over Rs.3900 Crores comprising Deposits of more than Rs.2260 Crores and advances of more than Rs.1700 Crores. The major thrust in the coming year shall be on the advances to, SME, Housing, Retail lending and Agriculture to facilitate credit to the farmers and agriculturists. 
 Insurance Joint Venture
The Life Insurance joint Venture of the Bank Canara HSBC Oriental Bank of Commerce Life Insurance Co. Ltd. has completed one year of operation. With a view to extend Life Insurance benefits to the rural and semi urban populace, the Bank has, through its Joint Venture Life Insurance Company viz. Canara HSBC Oriental Bank of Commerce Life Insurance Company Ltd. launched a simple Life Insurance Product “Saral Bima” which is affordable and tailor made to meet the life insurance requirements of the Rural & Semi-Urban populace.
HR Initiatives
Bank had recruited 1427 personnel, including 191 Agricultural Officer in 2008-09. The Bank intends to recruit more than 1550 personnel including 100 Marketing Managers and 83 Agriculture Officer during 2009-10 to meet its man power requirements for its proposed Branch and Business expansion.
Vision 2010
During 2009-10, the Bank plans to open more than 100 branches all over India and increase its Branch network to 1500 Branches with a total Business Mix of over Rs.2 Lac Crores by March 2010.