Oriental Bank to hire 1,800 more staff

This was disclosed by OBC CMD T Y Prabhu, while talking to the press at function where he inaugurated a branch in a new premises of the Bank at Indira Nagar (CMH Road) Bangalore on Monday. Prabhu said that OBC currently has total business of over Rs 1,84,000 crores and a branch network of 1,419 branches and 61 extension counters and 877 ATMs all over India.

He also mentioned that the Bank has made significant progress in the financial year 2009-10. The total business of the Bank as on  September 30, 2009 grew by 24.21 per cent on year to year basis and has reached to Rs1,84,443 crore. Deposits grew by 23.51 per cent to reach Rs107,909 crore and advances grew by 25.22 per cent to reach Rs 76,534 crore.

During 2009-10, the Bank plans to open more than 100 branches all over India and increase its network to 1500 branches, he pointed out.

The Life Insurance joint Venture of OBC, Canara HSBC Oriental Bank of Commerce Life Insurance Co. Ltd. has completed one year of operation. With a view to extend life insurance benefits to the rural and semi urban populace it has launched a simple life insurance product “Saral Bima” which is affordable and tailor made to meet the life insurance requirements of the Rural and Semi-Urban populace.