Bangalore: Indian state-run lender Oriental Bank of Commerce plans to open six branches in the southern states of Karnataka and Kerala during the current financial year 2012-13, the Business Line reported citing the bank's Regional Head CH S S Mallikarjuna Rao.
"We plan to open four branches in Karnataka and two in Kerala, as these states offer good business opportunities," Rao told the paper.
Presently, Oriental Bank of Commerce has 37 branches in Karnataka and 16 branches in Kerala.
Notably, around 60%-70% of the bank's business in Karnataka comes from Bangalore city, Rao said. Oriental Bank of Commerce has 19 branches in Bangalore.
The bank had a network of 1,772 branches and 1, 270 ATMs (automated teller machines) pan-India, as on March 31, 2012.
Shares of Oriental Bank of Commerce Friday were trading at Rs 228 on the Bombay Stock Exchange (BSE) at 1:57 pm, down 1.6% from the previous close.