The bank is going to undertake an organisational overhaul to improve the overall efficiency of operations and better control over the gigantic organisation
New Delhi: Bank of Baroda (BoB), the bank that became India’s second-largest public sector undertaking and the third-largest lender after merging Vijaya Bank and Dena Bank with itself, is going to undertake an organisational overhaul to improve the overall efficiency of operations, better control over the gigantic organisation and bolster monitoring mechanisms.
A new position
The bank has now decided to create a new position and introduce a new layer in the organisational hierarchy by putting in place the post of General Manager, Chief Coordination. The position will be a rank above the General Manager and one level below the Executive Director. The person occupying the post will be responsible for and drive multiple areas of operation instead of a single function, said BoB Managing Director and CEO PS Jayakumar in an internal note to employees.
No separate regional/zonal offices
Post merger, BoB now has a total of 9,447 branches which will now report to a unified regional office/zonal office structure of the bank and there will not be any separate RO/ZO of the three lenders running in parallel.
The domestic retail network of branches will now be under 18 zones and five field heads of Retail Distribution that would drive the business of 2 to 5 business under them.
Apart from 18 zones, the new structure would have a total of 108 regions. Jayakumar has also said that the bank proposes to gradually move the city vertical structure in five cities of Mumbai, Delhi, Ahmedabad, Bangalore and Chennai, to start with.