Bank of Rajasthan branches to go online by 2008

MUMBAI: Bank of Rajasthan is planning to convert all its branches into online by the end of 2007-08 (Apr-Mar). The bank also aims to open 35 new branches in near future.

The bank has been on a technological upgradation, adding seven more branches in its network of online branches, taking the total to 419 across 242 cities.

The branches that have gone online recently are Anjana and Surpur in Udaipur, Jaisingh Desar Magra and Jhakhdewali in Bikaner, Bennota and Bansi in Bhilwara, and Govindgarh in Jodhpur.

The bank opened nine new branches and converted 30 extension counters into branches during 2006-07. It was also successfully able to convert 86 of its existing branches into online during the FY07.

Bank of Rajasthan has an over 2-million customer base and offers ATM facilities at over 10,500 ATMs across the country with strategic tie-up with other banks. The bank’s 419 branches, spread over 242 cities.

The bank recorded its highest ever net profit in 2006-07 at Rs 110.57 crore, a jump of 625 per cent from Rs 15.25 crore in the year ended March 31, 2006. The bank declared 1:4 bonus shares and dividend of 20 per cent.