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Bank of Baroda (BoB) is the 3rd largest bank in India, after State Bank of India and Punjab National Bank and ahead of ICICI Bank. BoB has total assets in excess of Rs. 2.27 lakh crores, or Rs. 2,274 billion, a network of over 3000 branches and offices, and about 1100+ ATMs. BoB 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 Gaekwas III founded the bank on July 20, 1908 in the princely state of 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.
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 72 offices in 25 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. Bank of Baroda also has a joint-venture bank in Zambia with nine branches. Bank of Baroda maintains representative offices in Malaysia, Chia, Thailand and Australia.
Bank of Baroda has received permission or in principle approval from host country regulators to open new offices in Trinidad and Tobago and Ghana, where it is seeking to establish joint ventures or subsidiaries. The bank has received Reserve Bank of India approval to open offices in the Maldives, and New Zealand. |
