Bank of Baroda is planning to open 20 new branches in Karnataka by March-end, as it sees the state a potential industrial and trading region which can attract substantial inflow of funds and create opportunities for speedy growth. At present it has 80 branches in the state and with the opening of these new branches, the total number will cross 100 mark in Karnataka.
The bank has posted a rise of 11.60% in its net profit at Rs 1301.39 crore for the quarter ended September 30, 2012 as compared to Rs 1166.08 crore for the same quarter in the previous year. Total income has increased by 19.60% at Rs 9550.86 crore for quarter under review as compared to Rs 7985.78 crore for the quarter ended September 30, 2011.
