The Bank of Baroda New Zealand continues to flourish from the ongoing decentralisation drive in its parent bank back in India, says Bank of Baroda’s Singapore-based Head of East Asia and Far East Operations, Sunil Srivastava.

Mr Srivastava is Chief Executive Officer of Singapore operations along with holding the new additional charge of overseeing the Bank’s entire operations in East Asia and Far East.

Mr Srivastava was in New Zealand on a short trip from March 8-11, to participate in the Board of Directors meeting along with taking an overview of Bank’s functioning in this market.

In an exclusive interview with The Indian Weekender, Mr Srivastava discussed elaborately about the Bank of Baroda’s vision around decentralisation and how it is benefiting operations in local markets like that of New Zealand.

“The role of Head, East Asia and Far East Operations has been newly created from January this year by our top management.”

“The basic purpose behind this new vision was to decentralise the process of decision making and problem-solving and empower our local territories,” Mr Srivastava said.

“Now our local territories like BOB NZ does not have to wait for long for important decisions which were not possible for our head office earlier to reach out to all distant territories promptly,” Mr Srivastava said.

Speaking about BOB NZ’s recent strides in profitability and digitalisation Mr Srivastava expressed full satisfaction and confidence in the leadership team’s vision and actions.

“Our board of directors here have a wealth of expertise and experience in the banking sector, and they are able to set right goals for our staff and leadership team, which is being beneficial to our bank,” Mr Srivastava said.

He also expressed satisfaction on the digitalisation drive by Bank of Baroda NZ’s current Managing Director Anupam Srivastava especially in launching and progress of mobile banking.

“Mobile banking is the future of banking everywhere in the world, and it is indeed delightful to see our team here working so aggressively on it,” Mr Srivastava said.