By Paras Ramoutar, IANS,
Port-of-Spain : The Bank of Baroda, one of India’s largest public sector banks, is considering opening more branches in Trinidad and Tobago, home to a large Indian origin populace, the bank’s new head here said.
Yash Pal Chhabra, newly appointed managing director of the bank branch, said the Bank of Baroda will also launch the much-awaited debit card in the country.
Chhabra succeeds Kishor Kharat, the first managing director of the Trinidad and Tobago branch, which opened in 2007. Kharat leaves Tuesday to take a promotion in Pune, India.
“Due to the regular efforts made by Kharat, we are now in a position to say that our business is growing. We are well known here. We have contacts with the government officials as well as the Central Bank,” Chhabra told guests at a function Friday night at the Crowne Plaza here.
“Our esteemed customers will also have the Internet banking facility soon,” he added.
Trinidad and Tobago Minister of Education Tim Gopeesingh, Minister of Public Administration Rudrawatee Nan Ramgoolam, Minister of Local Government Chandresh Sharma, Indian High Commissioner Malay Mishra and Managing Director of Advertising Associates Rawlins Boodan attended the function.
Chhabra said: “The Bank of Baroda’s entry in Trinidad and Tobago was an act of foresightedness of the banks’ visionaries who decided to establish here.”
“Trinidad and Tobago has a large number of people who came from India long back for various purposes and then remained here. Despite it being an English-speaking country, people love Hindi songs and take interest in all activities initiated by India and Indians,” he added.
Forty-four percent of the country’s 1.3 million population is of Indian origin.
He said that apart from visualising economic considerations, the bank’s visionaries were influenced by the emotional appeal behind the “crucial decision”.
Chhabra said Kharat and his team provided the infrastructure which was a must for running an international bank.
He also thanked the customers who entered into a relationship with the bank despite knowing well that without full-fledged technology they could face inconvenience.
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.
He said that in the current fiscal year, the bank plans to expand its facilities to more countries.
The bank has been registering profit for the last 100 years, he said.