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Bank of Baroda revamps organizational structure

Bank of Baroda is proposing an organization structure revamp aiming to improve its overall efficiency in operations and control. This comes in the wake of the successful merger of the Dena Bank and Vijaya Bank with it. The bank said as a first instance it will create a new position of General Manager – Chief Coordination, which will be new layer in the organizational hierarchy. The position will be above the general manager and below the executive director. The person holding the position will be responsible for and drive multiple areas of operation instead of a single function. The decision was conveyed by the bank’s MD and CEO P.S. Jayakumar to the employees through an internal memo recently. The merged entity has 9447 branches, and all these will now report to a unified regional office/zonal office structure and there will not be any separate ROs/ZOs of the 3 entities. The memo also said the domestic retail network of branches is now being organized under 18 zones and 5 field heads of retail distribution who in turn will have overall responsibility for driving business of 2 to 5 business under them. Apart from the 18 zones, there will now be a total of 108 regions.

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