The bank’s use of manufacturing terminology such as’factory’ and’sales and service’ reflects its off-centre approach. The bank has 42’loan factories’ - hubs where loans are sanctioned - each for retail and small and medium enterprises’ lending, across the country. Mallya says the factories helped the bank not only strengthen its credit portfolio, but also improve its quality.People with the right skills under one roof help the bank make better decisions, " he says. He emphasises that growth alone is not enough; the quality of growth is equally important. For nearly two years, Bank of Baroda has also been working to transform the way business is done in its branches, through a business process re-engineering project called Navnirmaan.
"The aim is to transform our branches into sales and service centres, " says Mallya. Other major aims, he adds, are to spur sales growth through cross-selling(selling additional products to current clients) and deliver a "superior Customer experience.