NEW YORK, NY (TIP): Weeks after Bank of India Chief Executive of US operations B.B. Joshi who was transferred as Executive Director of Bank of Baroda in Mumbai, the new incumbent has finally taken over. He is P.K. Pattanaik from Odisha. Speaking about his priorities, he said he would address core issues to improve the profitability of operations. “Profitability of banks has come under severe strain following the global slowdown and there is a crying need to address the core customer base”, said Pattanaik. He would strive hard to improve and enforce systems and procedures for strict regulatory compliances. He said the bank has an independent compliance department with more than half a dozen officers and all efforts would be made to strengthen the department. Bank of India, New York branch and San Francisco Agency have been operating in the US since December 1978 and December 1977 respectively and are familiar, confident and comfortable doing business the American way.
Bank of India has global assets of $ 39 Billion and has a network of over 2884 branches spread over the length and breadth of India. The bank which was set up in 1906 also has branches in international commercial centers like London, Tokyo, Singapore, Hong Kong, Paris, Antwerp, ShenZen (China) to name a few and is wellversed in international trade. Bank of India, New York and San Francisco has a team of banking professionals who have come from different parts of India and are well versed in Indiarelated trade and have good rapport with key personnel in the banking sector in India. In view of this, unlike any other bank, Bank of India is in a position to move things in India, should there be roadblocks. Pattanaik started his career as a probationary officer in the bank in 1981 and rose up to the level of General Manager. He served in various capacities in branches in his home state Odisha and also in Mumbai Metro as Chief Manager besides working in the corporate office in Mumbai. A postgraduate in agriculture from Orissa institute of Agriculture, he also worked as General Manager of the bank’s Nagpur Zone. A former chairman of Aryabhatt Grameen Bank in Lucknow, Pattanaik have intensive experience in priority sector credit and compliances. He also served as General Manager of Human Resources of Financial Inclusions in bank’s head office in Mumbai prior to his posting in New York.