Bank of Baroda India

By: EconomyWatch Content   Date: 28 October 2009

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EconomyWatch Content

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EconomyWatch, Content Team

 

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Bank of Baroda (BOB) is the third largest public sector bank in India, with operations in over 25 countries across the globe. The bank has huge infrastructure in India. Its international operations are highly centered in the African region. It offers comprehensive financial solutions to individuals, corporations, enterprises and international customers.

Bank of Baroda: Company Information

Maharaja Sayajirao Gaekwad III, a Baroda Dynasty king, laid the foundation of the Bank of Baroda in 1908. In 1910, bank expanded its operations to include the nearest major financial center, Ahmedabad. In the period between 1953 and 1956, BOB opened four overseas branches in East African nations. In 1969, the bank was brought under the auspices of the Government of India to foster economic activities in the newly independent nation.

 

Over the years, the bank expanded its business both within India and in foreign nations. BOB also acquired several banks to develop its infrastructure and to widen its customer base. In 1996, the bank came out with an initial public offering (IPO), which reduced the Indian Government’s stakes to 66% in the holding. According to the 2009 data, Bank of Baroda has 3000 branches and over 1100 ATMs worldwide. The bank’s international operations across 25 countries are managed through 76 overseas branches or offices and six subsidiaries. Some of major economies where BOB has business operations are:

  • Australia

  • Belgium

  • China

  • Hong Kong

  • India

  • Malaysia

  • South Africa

  • Thailand

  • The UAE

  • The UK

  • The US

 

The bank generated Rs17,754 crores (US$3.9 billion) in revenues in the 2008-09 financial year. It holds total assets worth Rs2,274 billion (US$50 billion, 2009 data).

Bank of Baroda: Products and Services

Bank of Baroda has a specialized division for rural banking as well. The range of banking services available with BOB includes:

  • Wholesale Banking

  • SME Banking

  • Retail Banking

  • Rural/Agri Banking

  • Wealth Management

  • Demat

  • Online banking

 

Banking products offered by Bank of Baroda are:

  • Deposit Products

  • Loan Products

  • ATM / Debit Cards

  • Internet Banking

  • NRI Remittances

 

Bank of Baroda underwent a major identity makeshift in 2000s to reflect its global business image. It was conferred with the Bank of the Year Award (2008) at the India Leadership Conclave.

 

 

 


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