New Delhi, Oct 11 (PTI) State-owned Bank of Baroda on Tuesday announced the opening of four mid-corporate cluster offices in the national capital, Mumbai, Chennai and Kolkata.

Each mid-corporate cluster office will oversee a set of specialised branches in each zone catering exclusively to mid-sized corporates to push credit growth, the bank said in a statement.

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These branches will provide a comprehensive range of solutions and will ensure a faster turnaround time in the credit decision making process, it said, adding, the bank is also in the process of hiring over 300 specialised Relationship Managers (RMs) and credit analysts to serve customers.

In a strategic move, the bank recently reorganised its corporate banking model and the corporate banking vertical has been divided into two units -- large corporates and mid-corporates -- to effectively serve both customer segments, it said.

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The mid-corporate vertical caters to companies seeking credit facilities of up to Rs 250 crore, while the large corporate vertical handles business above Rs 250 crore, it said.

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