Bank of Baroda goes in for new organisational structure
The rejig aimed at improving overall efficiency of Bank of Baroda after its amalgamation with Vijaya Bank and Dena Bank
Bank of Baroda—the recently created banking behemoth post its three way amalgamation with Vijaya Bank and Dena Bank—is going in for organisation structure revamp to improve the overall efficiency of operations and have better control and monitoring mechanisms in the combined entity.
For this purpose, this bank—which now in all has 9447 branches—-has decided to introduce a new layer in the organisational hierarchy by creating a position of General Manager—-Chief Coordination.
The position of General Manager—Chief Coordination will be a rank above the General Manager and one level below the Executive Director and will be responsible for and drive multiple areas of operation instead of a single function, P.S.Jayakumar, Managing Director & CEO, Bank of Baroda said in an internal note to employees.
All the 9447 branches will now report to an unified Regional Office/Zonal Office structure of the bank and there will not be any separate ROs/ZOs of the individual three entities running in parallel.
The domestic retail network of branches is now being organised under 18 zones and five field heads of Retail Distribution who in turn will have overall responsibility for driving business of 2 to 5 business under them.
In the revised structure, apart from the 18 zones, there will now be a total of 108 regions. It is also proposed to gradually move to a city vertical structure in 5 cities of Mumbai, Delhi, Ahmedabad, Bangalore and Chennai, to start with, according to Jayakumar.