Bank of Baroda

Bank of Baroda

Bank of Baroda is the third largest bank in the public sector in India, after the State Bank of India and Punjab National Bank. Bob has total assets of over Rs. 2.27 lakh crore, or Rs. 2.274 billion U.S. dollars, a network of more than 3,000 branches and offices, and about 1,100 ATMs.

It offers a wide range of banking products and financial services to retail and corporate customers through a variety of distribution channels and through its specialized subsidiaries and affiliates in investment banking, credit cards and asset management.

Bank of Baroda pics

Maharaja of Baroda Sir Sayajirao Gaekwad III founded the bank on 20 July 1908 in the Principality of Baroda, in Gujarat. Bank, along with 13 other major commercial banks in India, was nationalized on 19 July 1969 by the Indian Government.

In its international expansion by the Bank of Baroda followed the Indian Diaspora, especially in Gujarat. It has significant presence through a network of 72 offices in 25 countries, six branches and four representative offices.

Between Bank of Baroda in 42 overseas branches are the major economic centers throughout the world, i.e., New York, London, Dubai, Hong Kong (which was recently updated), Brussels and Singapore, as well as a number of other countries. The Bank is involved in retail banking through 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 has received a permit or approval, in principle, host country regulators to open new offices in Trinidad and Tobago and Ghana, where he tries to establish joint ventures or subsidiaries.

The Bank has received approval from Reserve Bank of India to open offices in the Maldives and New Zealand. It is seeking approval for operations in Bahrain, South Africa, Kuwait, Mozambique, Qatar, and is establishing offices in Canada, New Zealand, Sri Lanka, Bahrain, Saudi Arabia and Russia. It also plans to expand its existing activities in the United Kingdom, UAE and Botswana.

For the latest news about Bob is that Bank of Baroda chairman Dr Mallya has shared that the state-owned and have a UAE bank run, exposure to 7-8% of their total loan portfolio. From a book of loans at 1.5 trillion rupiah, exposure to the UAE is around 100 million rupees, adding more concern for the problem of Dubai's existing debt.

Recent financial problems shared by Dubai have expressed concern for the welfare of the global financial system, and exposure of Indian lenders to the Middle East

For more information about BOB click here.

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