Mumbai, Aug 06: In its serious bid of business transformation, Bank of Baroda launched the second of its proposed 20 corporate financial services (CFS) branches at Fort, Mumbai today. The CFS branches are part of the bank's market segmentation strategy that is built around 6-lines of business including CFS, business financial services, personal finance services, rural finance services, international and treasury.

The CFS branch will exclusively cater to the special needs of higher net worth corporate customers above Rs 10 crores to Rs 30 crores assisted by relationship managers and financial analysts. Speaking to media, Rupert Almeida, general manager, Bank of Baroda said that the bank is planning open a CFS at Nariman Point and two more in western suburbs in Mumbai.

''As a part of information technology driven business strategy, the bank is planning to install lending process automation. This IBM software is under testing process now. The bank will be opening its business financial and personal financial service branch at Kandivli, Mumbai soon'', Almeida said.

The CFS branch was inaugurated by P S Shenoy, chairman managing director of Bank of Baroda. Bureau Report