In the face of the global financial downturn, India’s leading public sector bank, Bank of Baroda, plans to go ahead with its expansion plans both within and outside the country and recruit another 2,000 employees during 2008-09, its CMD M D Mallya said in London on Tuesday.

“We plan to open 150 new branches domestically and 10 more abroad during 2008-09 and recruit 2,000 more staff, including 1,000 clerks and 1,000 officers during the period,” Bank of Baroda Chairman and Managing Director Mallya said.

The Bank has a total staff strength of over 36,000.

The bank had opened 11 new branches abroad and 125 domestically, in 2007-08. At present, it has 74 branches abroad in 25 countries.

Of the 10 branches planned this year, four have already been opened, one each in China, the UAE, Kenya and Uganda. Six more would be opened in due course — two in Trinidad Tobago, two in New Zealand and two more in Dubai. In addition, more branches might be added in Kenya, Uganda and London, he said.

“We have been able to generate growth in business and profitability,” he stated.

Mallya formally launched, at the Crowne Plaza Hotel here, the Bank’s new scheme “Click Funds2India” under which customers could transfer funds to India through any branch of Bank of Baroda free of charge and through branches of other banks at a nominal fee. He said the total business of international branches had gone up to Rs 54,000 Crore – 20 per cent of the bank’s total business.

The overseas branches earned a net profit of Rs 1,435 crore for 2007-08, he said.

“In the current six months of 2008-09, this growth has continued and overseas operations has also continued to perform as in the past,” he said.