• The banking industry of course would be benefited due to increase in the demand for bank credit and Bank of Baroda would be a key beneficiary of these developments,” he said.
• Indian economic Growth Bank of Boaroda spending infrastructure

Bank of Baroda (BoB) Chairman Hasmukh Adhia believes the government’s emphasis on greater infrastructure spending and other investments to restore the economy will help the bank.

In a letter to the bank’s shareholders in its most recent annual report, he stated that the business had a bright outlook for 2022-23.

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“The Government of India has come up with many initiatives for increasing spending on infrastructure projects and other investments to revive the economy. The banking industry of course would be benefited due to increase in the demand for bank credit and Bank of Baroda would be a key beneficiary of these developments,” he said.

The bank has demonstrated its ability to adapt to change and respond fast to changing macroeconomic conditions, he said, adding that it has fine-tuned its operational capabilities and increased its delivery capacity.

BoB has chosen a ‘phygital’ approach, offering cutting-edge products and services through its powerful brand.

Adhia mentioned a digital platform in addition to traditional branch banking.

He noted that the bank’s key business aims and objectives are centred on developing a sustainable and lucrative business model with a more customer-friendly attitude, as well as incorporating the newest technical advancements to increase its brand name.

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In terms of both operational and financial performance, the bank is presently on solid ground. According to the annual report, it is ideally positioned to promote the Indian economy’s growth objectives and meet the expectations of all stakeholders.

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