The Oriental Bank of Commerce (OBC) decides to expand its business in the northern states that includes Punjab, Himachal Pradesh and Chandigarh.
The bank plans to open 11 new branches in these states by the end of this calendar year.
J K Malhotra, new General Manager for the Chandigarh region told that a new branch has recently been opened at New Shimla in Himachal Pradesh and a branch is also expected to open in Chandigarh by next month. The remaining branches are also likely to open shortly in the region.
Presently Oriental bank of Commerce has 54 branches in this region.
The bank's focus in its new branches will be on retail credit as the region is considered to comprise of mainly the working class. Housing loans, personal loans and loans against pension would be the other areas where bank will keep its eye.
Presently, OBC has a network of 530 branches spread throughout India out of which 490 branches offer centralized banking solutions. The bank has an ATM network of 505 ATMs.