Bank of Baroda growing in T&T

The Bank of Baroda is considering opening more branches in Trinidad and Tobago.

The bank, which is one India's largest public sector banks, began operating in the country in 2007.

Yash Pal Chhabra, the newly appointed managing director of the bank made the announcement at a function last Friday in Port of Spain.

Chhabra is taking over from Kishore Kharat who leaves Tuesday to take a promotion in Pune, India.

The new MD said business is growing rapidly adding that customers can expect a much anticipated debit-card system very soon. He also promised Internet banking in the near future.

Chhabra called the bank's entry in Trinidad and Tobago "an act of foresightedness of the banks' visionaries" who decided to establish in the country. He noted that Trinidad and Tobago has a strong historical and cultural connections to India through the country's history as an importer of Indian indentured labourers.

Today the country's Indian population is more than 40 per cent.

Chhabra thanked Kharat and his team for providing the necessary infrastructure which is "a must for running an international bank". He also thanked the customers for trusting the institution.

Chhabra said the Bank of Baroda conducts US$100 billion business through its 3,200 branches spread across the world with 78 offices in 25 countries and has operated profitably for the last 100 years.