Monday, 23 July 2007

BoB plans more loans to farmers

From Daily News, Dar es Salaam

THE Bank of Baroda (BoB) plans to increase lending to the agricultural sector by 20 per cent, the firm's Managing Director, Mr Umakant Bijapur, said over the weekend.

Mr Bijapur said the bank's loans and advances portfolio stood at 25bn/-, but not much of the facilities were directed to the agricultural sector.

"Transportation, manufacturing, petroleum and pharmaceuticals were areas which benefited most from the bank's loans," Mr Bijapur said on the occasion of marking BoB's 100th anniversary.

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