- Bank of Baroda
company_name = Bank of Baroda
company_type = Public
BSE & NSE:BOB}
foundation = 1908
location = Bank of Baroda,
Baroda Corporate Centre,
Plot No - C-26, G - Block,
Bandra Kurla Complex,
key_people = M D Mallya, Chairman & Managing Director
Banking Capital Marketsand allied industries
products = Loans,
Credit Cards, Savings, Investment vehicles etc.
revenue = profit
employees = N/A| homepage = [http://www.bankofbaroda.com/ www.bankofbaroda.com]
Bank of Baroda (BSE|532134) is the sixth largest bank in India. It has total assets in excess of Rs. 1.78
lakh crores, or Rs. 1,780 bn., a network of over 2800 branches and offices, and about 1000+ ATMs. Bank of Baroda offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries and affiliates in the areas of investment banking, credit cards and asset management.
Maharajah of Baroda Sir
Sayajirao Gaekwad IIIfounded the bank on July 20, 1908in the princely stateof Baroda, in Gujarat. The bank, along with 13 other major commercial banks of India, was nationalised on 19 July, 1969, by the Government of India.
Bank of Baroda
In its international expansion Bank of Baroda followed the Indian diaspora, and especially that of the
Gujaratis. It has significant international presence with a network of 70 offices in 24 countries, six subsidiaries, and four representative offices.
Among Bank of Baroda's 42 overseas branches are ones in the world’s major financial centers i.e. New York, London, Dubai, Hong Kong (which it has upgraded recently), Brussels and Singapore, as well as a number in other countries. The bank is engaged in retail banking via 17 branches of subsidiaries in Botswana, Guyana, Kenya, Tanzania, and Uganda, and a joint-venture bank in Zambia with nine branches. Bank of Baroda maintains representative offices in Malaysia, China, Thailand, and Australia. It plans to upgrade its offices in China and Malaysia shortly to a branch and joint-venture, respectively.
The Bank has received permission or in principle approval from host country regulators to open new offices in
Trinidad and Tobagoand Ghana, where it is seeking to establish joint ventures or subsidiaries. The bank has received Reserve Bank of Indiaapproval to open offices in the Maldives, and New Zealand. It is seeking approval for operations in Bahrain, Johannesburg, Kuwait, Mozambique, and Qatarand is establishing offices in Canada, New Zealand, Sri Lanka, Bahrain, Saudi Arabia, and Russia. It also has plans to extend its existing operations in the United Kingdom, the United Arab Emirates, and Botswana.
Maharaja Sayajirao Gaekwad IIIset up Bank of Baroda (BOB)."
*1910: BOB established its first branch in
*1953: BOB established a branch in
Mombasaand another in Kampala.
*1954: BOB opened a branch in
*1956: BOB opened a branch in
*1957: BOB established a branch in London to follow Asians emigrating from East Africa.
*1959: BOB acquired Hind Bank.
*1961: BOB merged in New Citizen Bank of India. This merger helped it increase its branch network in
Maharashtra. BOB also opened a branch in Fiji.
*1962: BOB opened a branch in
*1963: BOB acquired Surat Banking Corporation in
*1964: BOB acquired two banks, Umbergaon People’s Bank in southern
Gujaratand Tamil Nadu Central Bank in Tamil Nadustate.
*1964: BOB lost its branch in Narayanjanj (East Pakistan) due to the Indo-Pakistan war. It is unclear when BOB had opened the branch.
*1965: BOB opened a branch in
*1967: The Tanzanian government nationalized BOB’s three branches there and transferred their operations to the Tanzanian government-owned National Banking Corporation.
*1969: The Government of India nationalized 14 top banks, including BOB. BOB incorporated its operations in
Ugandaas a 51% subsidiary, with the government owning the rest.
1970s and 1980s
*1972: BOB acquired
Bank of India’s operations in Uganda.
*1974: BOB opened a branch each in
Dubaiand Abu Dhabi.
*1975: BOB acquired the majority shareholding and management control of Bareilly Corporation Bank (est. 1928) and Nainital Bank (est. in 1954), that time both in
Uttar Pradesh. Now Nainital Bank in Uttarakhand State.
*1976: BOB opened a branch in
Omanand another in Brussels. The Brussels branch was aimed at Indian firms from Mumbai( Bombay) engaged in diamond cutting and jewellery having business in Antwerp, a major center for diamond cutting.
*1978: BOB opened branch in New York and another in the
*1979: BOB opened a branch in Nassau, the Bahamas.
*1980: BOB opened a branch in Bahrain and a representative office in
Sydney, Australia. BOB, Union Bank of India and Indian Bank established IUB International Finance, a licensed deposit taker, in Hong Kong. Each of the three banks took an equal share.
*1985: BOB (20%), Bank of India (20%), Central Bank of India (20%) and ZIMCO (Zambian government; 40%) established Indo-Zambia Bank Ltd. (Lusaka). BOB also opened an Offshore Banking Unit (OBU) in Bahrain.
*1988: BOB acquired Traders Bank, which had a branch network in Delhi.
*1990: BOB opened an OBU in
Mauritius, but closed its representative office in Sydney.
*1991: BOB took over the London branches of Union Bank of India and
Punjab & Sind Bank(P&S). P&S’s branch had been established before 1970 and Union Bank’s after 1980. The Reserve Bank of Indiaordered the takeover of the two following the banks' involvement in the Sethia fraud in 1987 and subsequent losses.
*1992 BOB incorporated its operations in Kenya into a local subsidiary with a small tranche of shares quoted on the Nairobi Stock Exchange.
*1993: BOB closed its OBU in Bahrain.
*1996: BOB Bank entered the capital market in December with an
Initial Public Offering( IPO). The Government of India is still the largest shareholder, owning 66% of the bank's equity.
*1997: BOB opened a branch in
*1998: BOB bought out its partners in IUB Intl. Fin. In Hong Kong. Apparently this was a response to regulatory changes following Hong Kong’s reversion to the Peoples Republic of China. The now wholly owned subsidiary became Bank of Baroda (Hong Kong), a restricted license bank. BOB also acquired Punjab Cooperative Bank in a rescue.
*1999: BOB acquired Bareilly Corporation Bank in another rescue. In
Guyana, BOB incorporated its branch as a subsidiary, Bank of Baroda Guyana.
*2000: BOB established Bank of Baroda
*2002: BOB acquired
BenaresState Bank at the Reserve Bank of India’s request.
*2003: BOB opened an OBU in Mumbai.
*2004: BOB acquired the failed Gujarat Local Area Bank, and returned to
Tanzaniaby establishing a subsidiary in Dar-es-Salaam. BOB a;so opened a representative office each in Kuala Lumpur, Malaysia, and Guangdong, PRC.
Reserve Bank of India(RBI), has approved a joint venture between BOB, Bank of Maharashtra (BOM), and Oriental Bank of Commerce (OBC) to set up a bank in Malaysia. The new bank will reside in Kuala Lumpur, which has a large population of Indians. The initial capital required will be US$78 million; BOB will invest 40%, and the other two banks will invest 30% each. The JV is awaiting approval from the Malaysian Central Bank. Bank has built and commissioned its own State-of-the-Art Global Data Centre (DC) in Mumbai for running its centralized banking solution(CBS) and other applications in 1900+ branches across India and 20 other counties where the Bank is operating. BOB also opened a representative office in Thailand.
*2006: BOB established an Offshrore Banking Unit (OBU) in Singapore.
*2007: In its centenary year, BOB's total business crossed 2.09 lakh crores, its branches crossed 1000, and its global customer base 29 million people.
Bank of Baroda Financials
*Sales Rs. 10385 crores
*Profits Rs. 1026 crores
*Assets Rs. 143146 crores
Customer Banking Experiences
* Tripathi, Dwijendra and Priti Misra (1985). "Towards a New Frontier: History of the Bank of Baroda, 1908-1983". (New Delhi, India: Manohar).
* [http://www.bankofbaroda.com/ Bank of Baroda website]
* [http://www.bobcards.com/ BoBCards - Credit card Arm of Bank of Baroda]
* [http://www.bobcapitalmarkets.com/ BoB Capital markets - Investment Banking Arm of Bank of Baroda]
* [http://www.bobmf.com/ BoB Mutual Fund - Mutual Fund Arm of Bank of Baroda]
Wikimedia Foundation. 2010.
Look at other dictionaries:
Baroda State — Princely State [[Mughal Empire … Wikipedia
Baroda Medical College — Established 1949 Type State University Endowment I … Wikipedia
Baroda Museum & Picture Gallery — The famous museum was built in 1894 on the lines of Victoria Albert and Science Museums of London. Major Mant in association with R.F. Chisholm  who refined some of Mant s finest works to make genuine Indo Saracenic architecture designed the… … Wikipedia
Bank of India — Infobox Company company name = Bank of India company company type = Public (BSE:BOI) foundation = location = key people = industry = Financial Commercial banks num employees = homepage = Bank of India (BoI), established on 7 September, 1906 is a… … Wikipedia
Nainital Bank — The Nainital Bank Limited Industry Banking Financial services Investment services Founded 1954 Headquarters Seven Oaks Building, Mallital, Nainital, Uttarakhand, India … Wikipedia
Maharaja Sayajirao University of Baroda — The Maharaja Sayajirao University of Baroda Motto Satyam Shivam Sundaram Established 1949 Type Public … Wikipedia
Indo-Zambia Bank — Ltd Rechtsform GmbH Gründung 1908 (Bank of Baroda in Indien) Sitz Lusaka Umsatz (Dividende 2006: US $ 1,2 Mio) Branche Finanzgewerbe … Deutsch Wikipedia
Faculty of Technology and Engineering The Maharaja Sayajirao University of Baroda — Faculty of Technology and Engineering Established 1890 Type Public Undergraduates 2000 … Wikipedia
Development Credit Bank — DCB Bank (Development Credit Bank Limited) Type Public (BSE: 532772) Industry Banking Financial services Headquarte … Wikipedia
Indian Bank — Infobox Company company name = Indian Bank company company type = Public (BSE, NSE) foundation = 1907 location = industry = Banking branches = 1402 key people = Mr. M.S. Sundara Rajan (Chairman and MD) revenue = 3895.99 Crores $865m (2005 06)… … Wikipedia