ISSUE
Friday, August 15, 2025
Volume 16 . Issue 72
Bank of Baroda New Zealand’s first Managing Director Satish Vermani is due to return to India at the end of this month. Navin Upreti, who has just arrived from India will succeed him.
The Indian community has acknowledged Mr Vermani’s contribution to the community in having established the bank’s presence in New Zealand from scratch to a clientele of more than 1500 in a short span of just 20 months.
In the past year, the bank has already accumulated deposits of $20 million and advanced loans of about $10 million. The bank’s highly popular zero-fee remittance service to India has surpassed Rs 30 crores.
In the course of its function to honour its sponsors and volunteers earlier this week, the Auckland Indian Association farewelled Mr Vermani and welcomed Mr Upreti at its Mahatma Gandhi Centre premises.
The Association thanked Bank of Baroda for its continued support to the Association and its services to the Indian community all over the world.
Both Mr Vermani and Mr Upreti were upbeat about the emerging Free Trade Agreement between India and New Zealand and said that the bank would rise to the occasion to facilitate better trade and serve businesses in the two countries.
During his visit to formally inaugurate the bank earlier this year, Chairman and Managing Director M D Mallya had told Indian Weekender that the Indian management was highly impressed by the bank’s progress in New Zealand and would be happy to support its growth in time to come.
Commenting on his departure, Mr Vermani told Indian Weekender it was a bitter-sweet experience.
While he was looking forward to going back to his home country after a long stint overseas, he would miss all the friends in the Indian community in New Zealand he said.
“Mr Vermani will be a tough act to follow,” Mr Upreti told Indian Weekender. But Mr Vermani complemented his successor, saying he was greatly experienced with a long and successful service record with the bank. He expressed confidence that Mr Upreti would be successful in taking the bank to greater heights in New Zealand.
The bank is already in the process of opening two new branches – one in South Auckland and the other in Wellington.
Bank of Baroda New Zealand’s first Managing Director Satish Vermani is due to return to India at the end of this month. Navin Upreti, who has just arrived from India will succeed him.
The Indian community has acknowledged Mr Vermani’s contribution to the community in having established the bank’s...
Bank of Baroda New Zealand’s first Managing Director Satish Vermani is due to return to India at the end of this month. Navin Upreti, who has just arrived from India will succeed him.
The Indian community has acknowledged Mr Vermani’s contribution to the community in having established the bank’s presence in New Zealand from scratch to a clientele of more than 1500 in a short span of just 20 months.
In the past year, the bank has already accumulated deposits of $20 million and advanced loans of about $10 million. The bank’s highly popular zero-fee remittance service to India has surpassed Rs 30 crores.
In the course of its function to honour its sponsors and volunteers earlier this week, the Auckland Indian Association farewelled Mr Vermani and welcomed Mr Upreti at its Mahatma Gandhi Centre premises.
The Association thanked Bank of Baroda for its continued support to the Association and its services to the Indian community all over the world.
Both Mr Vermani and Mr Upreti were upbeat about the emerging Free Trade Agreement between India and New Zealand and said that the bank would rise to the occasion to facilitate better trade and serve businesses in the two countries.
During his visit to formally inaugurate the bank earlier this year, Chairman and Managing Director M D Mallya had told Indian Weekender that the Indian management was highly impressed by the bank’s progress in New Zealand and would be happy to support its growth in time to come.
Commenting on his departure, Mr Vermani told Indian Weekender it was a bitter-sweet experience.
While he was looking forward to going back to his home country after a long stint overseas, he would miss all the friends in the Indian community in New Zealand he said.
“Mr Vermani will be a tough act to follow,” Mr Upreti told Indian Weekender. But Mr Vermani complemented his successor, saying he was greatly experienced with a long and successful service record with the bank. He expressed confidence that Mr Upreti would be successful in taking the bank to greater heights in New Zealand.
The bank is already in the process of opening two new branches – one in South Auckland and the other in Wellington.
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