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Bank of Baroda seeks capital infusion: Chairman and managing director S S Mundra

KOLKATA: State-owned Bank of BarodaBSE -7.75 % has sought capital infusion of Rs 1,800 crore from the government, its chairman and managing director S S Mundra said today.

"We have sought a capital infusion of Rs 1,800 crore from the government in the form of preferential allotment," Mundra told reporters on the sidelines of 
FICCI Banking Conclave here. 

Government holding in the bank stood at 55.4 per cent. Mundra said that the focus of the bank was retail lending, agriculture and MSME sectors. 

In retail, advances grew by 17 per cent last fiscal, 14 per cent in agriculture and 23 per cent in MSME, he said. 

"We expect advances to grow by 18 per cent to 20 per cent in the three sectors this fiscal," Mundra said. 

About overseas operations, he said that bank's 30 per cent of total business generated was in 24 countries where it had presence. 

Nearly 30 per cent of the gross profit was from overseas operations, he said. 

"We will expand overseas where we have our presence and know the 
environment," Mundra said.