The Oriental Bank of Commerce (OBC) plans to open 11 new branches in Punjab, Himachal Pradesh and Chandigarh this year.
J K Malhotra, new general manager for the Chandigarh region, told FE that a new branch had recently been opened at New Shimla in Himachal Pradesh, which holds huge potential for business in view of tourism boom in the hill state. A branch in Chandigarh is likely to be opened next month. He informed rest of the branches would be opened shortly in the region. At present, the Oriental bank of Commerce has 54 branches in this region.
Malhotra said his focus for northern region would be on retail credit as Chandigarh comprised mainly of working class. He said housing loans, personal loans and loans against pension would be the other focus areas.