Bank of Baroda

Bank of Baroda (BOB) is a multinational Indian banking and financial services company operating in the public sector. With 131 million customers, a total business of US$218 billion, and a global presence of 100 overseas offices, it is India’s third-largest public sector bank. It is ranked 1145 on the Forbes Global 2000 list, based on data from 2019.

On September 17, 2018, the government of India announced the merger of Bank of Baroda, Vijaya Bank, and Dena Bank to create the third-largest lender in the country. With a combined business of Rs14.82 trillion (short scale), the amalgamation is the country’s first-ever three-way consolidation of banks, making it the third-largest bank after State Bank of India (SBI) and ICICI Bank.

Bank of Baroda Company Profile

  • Name of Company: Bank of Baroda
  • Company Type: Public
  • Industry of this company: Banking Financial Services
  • Year Company was Founded: 20 July 1908
  • Founder of this company: Sayajirao Gaekwad III
  • Headquarters: Vadodara, Gujarat, India
  • Main Leaders in this company: Hasmukh Adhia (Chairman), Sanjiv Chadha (MD & CEO)
  • Subsidiaries: NA

The Maharaja of Baroda, Maharaja Sayajirao Gaekwad III, established the bank in the Princely State of Baroda, Gujarat, on 20 July 1908. On 19 July 1969, the Government of India and 13 other major Indian commercial banks nationalized the bank; the bank was designated as a public sector profit-making undertaking (PSU).

The Bank of Baroda (BoB), with other industry stalwarts such as Sampatrao Gaekwad, Ralph Whitenack, Vithaldas Thakersey, Tulsidas Kilachand, and NM Chokshi, was established by Maharaja Sayajirao Gaekwad III in 1908. Two years later, in Ahmedabad, BoB established its first branch. The bank grew domestically until after World War II. Then, in 1953, by establishing a branch in Mombasa and Kampala, it crossed the Indian Ocean to serve the communities of Indians in Kenya and Indians in Uganda. A second branch was opened in Kenya the following year, in Nairobi, and a branch was opened in Tanzania at Dar-es-Salaam in 1956. Then, in 1957, by establishing a branch in London, BoB took a big step abroad. The center of the British Commonwealth and the most significant international banking center was London. BoB acquired Hind Bank (Calcutta, est. 1943) in 1958, which became the first domestic acquisition of BoB.

The bank has 107 branches/offices in 24 countries (excluding India), including 61 of the bank’s branches/offices, 38 of its eight subsidiaries, and 1 of its representative offices in Thailand. With 16 branches, Bank of Baroda has a joint venture in Zambia.

All Customer Care details of Bank of Baroda

Overseas branches of the Bank of Baroda include those in the major financial centers of the world (e.g., New York, London, Dubai, Hong Kong, Brussels, and Singapore), as well as in a number of other countries. The bank operates retail banking through subsidiary branches in Botswana, Guyana, Kenya, Tanzania, and Uganda. Bank plans have recently upgraded their Australian representative office to a branch and established a Malaysian joint venture commercial bank. With around nine branches spread across the country, it has a large presence in Mauritius.

Bank of Baroda has been authorized or approved in principle by the regulators of the host country to open new offices in Trinidad and Tobago and Ghana, where it seeks to establish joint ventures or subsidiaries. The bank has obtained approval from the Reserve Bank of India to open offices in the Maldives and New Zealand. Operations in Bahrain, South Africa, Kuwait, Mozambique, and Qatar are being sought approval and offices are being established in Canada, New Zealand, Sri Lanka, Bahrain, Saudi Arabia, and Russia. It is also planning to extend its existing operations in the United Kingdom, Botswana, and the United Arab Emirates.


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