Bank of Baroda
Bank of Baroda is the third largest public sector Bank in India which was incorporated with an initial investment of Rs.10lakhs on 20th July, 1908 at Baroda under the companies’ act of 1987. The initiator of Bank of Baroda, Maharaja Sayajirao Gaekwad with his outlook approach saw “a Bank of this kind will provide benefits for lending, transmission and deposit of money and will play a major role in developing agriculture, industries etc.” Through these years Bank of Baroda has been converted into a reliable financial organization. Shri. M. D. Mallya, Chairman & Managing Director and Shri Rajiv Kumar Bakshi, Executive Director are managing Bank of Baroda at present and the Bank has got ISO 9001:2000 certifications for 15 of its branches.
History
In 1908: Maharaja Sayajirao Gaekwad III set up Bank of Baroda (BOB).
In 1910: BOB established its first branch in Ahmedabad.
In 1953: BOB established a branch in Mombasa and another in Kampala.
In 1954: BOB opened a branch in Nairobi.
In 1956: BOB opened a branch in Dar-es-Salaam.
In 1957: BOB established a branch in London.
In 1959: BOB acquired Hind Bank.
In 1961: BOB merged in New Citizen Bank of India. This merger helped it increase its branch network in Maharashtra. In this year BOB also opened a branch in Fiji.
In 1962: BOB opened a branch in Mauritius.
In 1963: BOB acquired Surat Banking Corporation.
In 1964: BOB acquired two more banks, Umbergaon People’s Bank and Tamil Nadu Central Bank.
In 1964: BOB lost its branch in Narayanjanj (East Pakistan) due to the Indo-Pakistan war. It is unclear when BOB had opened the branch.
In 1965: BOB opened a branch in Guyana.
In 1967: The Tanzanian government nationalized BOB’s three branches there and transferred their operations to the Tanzanian government-owned National Banking Corporation.
In 1969: The government of India nationalized 14 top banks, including BOB.
In 1972: BOB acquired The Bank of India’s operations in Uganda.
In 1974: BOB opened a branch each in Dubai and Abu Dhabi.
In 1975: BOB acquired the majority shareholding and management control of Bareilly Corporation Bank (est. 1928) and Nainital Bank (est. in 1954), both in Uttar Pradesh. Since then, Nainital Bank has expanded to Uttarakhand State.
In 1976: BOB opened a branch in Oman and 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.
In 1978: BOB opened a branch in New York and another in the Seychelles.
In 1979: BOB opened a branch in Nassau, the Bahamas.
In 1980:BOB opened a branch in Bahrain and a representative office in Sydney, Australia.
In 1988: BOB acquired Traders Bank, which had a branch network in Delhi.
In 1990: BOB opened an OBU in Mauritius, but closed its representative office in Sydney.
In 1991: BOB took over the London branches of Union Bank of India and Punjab & Sind Bank (P&S).
In 1992: BOB incorporated its operations in Kenya into a local subsidiary with a small tranche of shares quoted on the Nairobi Stock Exchange.
In 1993: BOB closed its OBU in Bahrain.
In 1996: BOB Bank entered the capital market in December with an Initial Public Offering. The Government of India is still the largest shareholder, owning 66% of the bank's equity.
In 1997: BOB opened a branch in Durban.
In 1998: BOB bought out its partners in IUB International Finance in Hong Kong.
In 2000: BOB established Bank of Baroda (Botswana).
In 2002: BOB acquired Benares State Bank (BSB) at the Reserve Bank of India’s request. In this year Bank of Baroda (Uganda) was listed on the Uganda Securities Exchange (USE).
In 2003: BOB opened an OBU in Mumbai.
In 2004: BOB acquired the failed Gujarat Local Area Bank, and returned to Tanzania by establishing a subsidiary in Dar-es-Salaam. BOB also opened a representative office each in Kuala Lumpur, Malaysia, and Guangdong, China.
In 2000: BOB established Bank of Baroda (Botswana).
In 2002: BOB acquired Benares State Bank (BSB) at the Reserve Bank of India’s request. In this year Bank of Baroda (Uganda) was listed on the Uganda Securities Exchange (USE).
In 2003: BOB opened an OBU in Mumbai.
In 2004: BOB acquired the failed Gujarat Local Area Bank, and returned to Tanzania by establishing a subsidiary in Dar-es-Salaam. BOB also opened a representative office each in Kuala Lumpur, Malaysia, and Guangdong, China.
In 2005: BOB built a Global Data Centre (DC) in Mumbai for running its centralized banking solution (CBS) and other applications in more than 1,900 branches across India and 20 other counties where the bank operates. BOB also opened a representative office in Thailand.
In 2006: BOB established an Offshore Banking Unit (OBU) in Singapore.
In 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.
In 2008: BOB opened a branch in Guangzhou, China (02/08/2008) and in Kenton, Harrow United Kingdom.
In 2009: The Bank of Baroda registered with the Reserve Bank of New Zealand, enabling it to trade as a bank in New Zealand (2009/09/01)
Products of Bank of Baroda
Bank of Baroda offers a comprehensive range of products and services to meets the needs of its individual as well as Business man & Corporate clients that include the following:
# Personal
Deposit Products
1. Fixed
2. Current
3. Savings
Gen Next Services
1. Gen-Next Junior
2. Gen-Next Lifestyle
3. Gen-Next Power
4. Gen-Next Suvidha
Loans
1. Home Loan
2. Home Loans to NRIs / PIOs
3. Home Improvement Loan
4. Interest Subsidy Scheme For Housing The Urban Poor(ISHUP)
5. Loan Against Future Rent Receivables
6. Mortgage Loan
7. Advance Against Securities
8. Education Loan
9. Baroda Career Development Loan
10. Auto Loan
11. Two Wheeler Loan
12. Loan to Doctors
13. Traders Loan
14. Personal Loan
15. Baroda Ashray (Reverse Mortgage Loan)
16. Loan for financing Individuals for subscription to Public Issues /IPO
# Business
Deposits
1. Fixed
> Short Term (Under 12 months)
> Term Deposits (Over 12 months)
2. Current
Loans & Advances
1. Working Capital Finance
2. Term Finance
3. SSI (Small Scale Industries)
4. Baroda SME Loan Pack
5. Small Business Borrowers
6. Traders Loan
Services
1. Remittances (Baroda Money Express)
2. Collection Services
3. ECS (Electronic Clearing Services)
4. Debit Cards
Lockers
Bank of Baroda provide locker to there customers.
# Corporate
Wholesale Banking
Bank has identified the following new business segments as a step toward becoming
Multi Specialist Bank.
1. Wholesale (Large & Mid Corporates)
2. Urban Retail
3. Small & Medium Enterprises
4. Rural/Agri Business
Under Wholesale Banking the corporate customers are identified as Large and Mid
corporates. Companies having annual sales turnover of over Rs. 500 crore are
classified as Large Corporate and those having annual sales turnover between Rs:
100 crore to 500 crore are classified as Mid Corporate.
Under Wholesale Banking it has been proposed that Large & Mid Corporate customer
of the Bank are located at the identified branches for providing them better services.
By locating the Corporates at the identified branches, they would have the following
advantages.
By locating the Corporates at the identified branches, they would have the
following advantages.
1. Single point contact to cater to all the banking requirements of the Corporates.
2. Expeditious decision making and shorter turnaround time.
3. Availability of product specialist who can customize existing products as per the
Corporate’s specific requirements & can also develop new products.
4. Existence of Core Banking Solution facilities & World-class infrastructure.
The Corporate accounts will be served at these branches by the Client Service
Team (CST) of competent credit officers. The team will comprise of :
1. Relationship Manager
2. Relationship Officer
3. Product Specialist
4. Credit officer (dedicated from Corporate Office)
The following are the areas in which Client Service Team can help the Large &
Mid Corporate:
1. Trade Finance products
2. Cash Management Products
3. Treasury Products
4. Bridge Loans
5. Syndicated Loans
6. Infrastructure Loans
7. Cross Currency/Interest Rate Swaps
8. Foreign Currency Loans and many more depending upon the needs of the
Corporates.
Initially 11 important centers at Mumbai, Delhi, Chennai, Bangalore, Hyderabad,
Ahmedabad, Pune, Baroda, Kolkata, Jaipur, and Raipur have been identified for the
rollout of Wholesale Banking.
The Corporates can take advantage of the expertise available at Wholesale Banking
Branches.
Loan and advances
1. Working Capital
2. Line of Credit
3. Export Finance
4. Bill Finance
5. FCNR(B) Loans
6. Bridge Loans
7. Advance Against Shares
8. Loan Against Rent Receivables
9. Term Finance
10. Short Term Corporate Loan
11. Project Finance
12. Infrastructure Finance
13. Takeover of Accounts
14. Non Fund Based Services
Bank of Baroda is the third largest public sector Bank in India which was incorporated with an initial investment of Rs.10lakhs on 20th July, 1908 at Baroda under the companies’ act of 1987. The initiator of Bank of Baroda, Maharaja Sayajirao Gaekwad with his outlook approach saw “a Bank of this kind will provide benefits for lending, transmission and deposit of money and will play a major role in developing agriculture, industries etc.” Through these years Bank of Baroda has been converted into a reliable financial organization. Shri. M. D. Mallya, Chairman & Managing Director and Shri Rajiv Kumar Bakshi, Executive Director are managing Bank of Baroda at present and the Bank has got ISO 9001:2000 certifications for 15 of its branches.
History
In 1908: Maharaja Sayajirao Gaekwad III set up Bank of Baroda (BOB).
In 1910: BOB established its first branch in Ahmedabad.
In 1953: BOB established a branch in Mombasa and another in Kampala.
In 1954: BOB opened a branch in Nairobi.
In 1956: BOB opened a branch in Dar-es-Salaam.
In 1957: BOB established a branch in London.
In 1959: BOB acquired Hind Bank.
In 1961: BOB merged in New Citizen Bank of India. This merger helped it increase its branch network in Maharashtra. In this year BOB also opened a branch in Fiji.
In 1962: BOB opened a branch in Mauritius.
In 1963: BOB acquired Surat Banking Corporation.
In 1964: BOB acquired two more banks, Umbergaon People’s Bank and Tamil Nadu Central Bank.
In 1964: BOB lost its branch in Narayanjanj (East Pakistan) due to the Indo-Pakistan war. It is unclear when BOB had opened the branch.
In 1965: BOB opened a branch in Guyana.
In 1967: The Tanzanian government nationalized BOB’s three branches there and transferred their operations to the Tanzanian government-owned National Banking Corporation.
In 1969: The government of India nationalized 14 top banks, including BOB.
In 1972: BOB acquired The Bank of India’s operations in Uganda.
In 1974: BOB opened a branch each in Dubai and Abu Dhabi.
In 1975: BOB acquired the majority shareholding and management control of Bareilly Corporation Bank (est. 1928) and Nainital Bank (est. in 1954), both in Uttar Pradesh. Since then, Nainital Bank has expanded to Uttarakhand State.
In 1976: BOB opened a branch in Oman and 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.
In 1978: BOB opened a branch in New York and another in the Seychelles.
In 1979: BOB opened a branch in Nassau, the Bahamas.
In 1980:BOB opened a branch in Bahrain and a representative office in Sydney, Australia.
In 1988: BOB acquired Traders Bank, which had a branch network in Delhi.
In 1990: BOB opened an OBU in Mauritius, but closed its representative office in Sydney.
In 1991: BOB took over the London branches of Union Bank of India and Punjab & Sind Bank (P&S).
In 1992: BOB incorporated its operations in Kenya into a local subsidiary with a small tranche of shares quoted on the Nairobi Stock Exchange.
In 1993: BOB closed its OBU in Bahrain.
In 1996: BOB Bank entered the capital market in December with an Initial Public Offering. The Government of India is still the largest shareholder, owning 66% of the bank's equity.
In 1997: BOB opened a branch in Durban.
In 1998: BOB bought out its partners in IUB International Finance in Hong Kong.
In 2000: BOB established Bank of Baroda (Botswana).
In 2002: BOB acquired Benares State Bank (BSB) at the Reserve Bank of India’s request. In this year Bank of Baroda (Uganda) was listed on the Uganda Securities Exchange (USE).
In 2003: BOB opened an OBU in Mumbai.
In 2004: BOB acquired the failed Gujarat Local Area Bank, and returned to Tanzania by establishing a subsidiary in Dar-es-Salaam. BOB also opened a representative office each in Kuala Lumpur, Malaysia, and Guangdong, China.
In 2000: BOB established Bank of Baroda (Botswana).
In 2002: BOB acquired Benares State Bank (BSB) at the Reserve Bank of India’s request. In this year Bank of Baroda (Uganda) was listed on the Uganda Securities Exchange (USE).
In 2003: BOB opened an OBU in Mumbai.
In 2004: BOB acquired the failed Gujarat Local Area Bank, and returned to Tanzania by establishing a subsidiary in Dar-es-Salaam. BOB also opened a representative office each in Kuala Lumpur, Malaysia, and Guangdong, China.
In 2005: BOB built a Global Data Centre (DC) in Mumbai for running its centralized banking solution (CBS) and other applications in more than 1,900 branches across India and 20 other counties where the bank operates. BOB also opened a representative office in Thailand.
In 2006: BOB established an Offshore Banking Unit (OBU) in Singapore.
In 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.
In 2008: BOB opened a branch in Guangzhou, China (02/08/2008) and in Kenton, Harrow United Kingdom.
In 2009: The Bank of Baroda registered with the Reserve Bank of New Zealand, enabling it to trade as a bank in New Zealand (2009/09/01)
Products of Bank of Baroda
Bank of Baroda offers a comprehensive range of products and services to meets the needs of its individual as well as Business man & Corporate clients that include the following:
# Personal
Deposit Products
1. Fixed
2. Current
3. Savings
Gen Next Services
1. Gen-Next Junior
2. Gen-Next Lifestyle
3. Gen-Next Power
4. Gen-Next Suvidha
Loans
1. Home Loan
2. Home Loans to NRIs / PIOs
3. Home Improvement Loan
4. Interest Subsidy Scheme For Housing The Urban Poor(ISHUP)
5. Loan Against Future Rent Receivables
6. Mortgage Loan
7. Advance Against Securities
8. Education Loan
9. Baroda Career Development Loan
10. Auto Loan
11. Two Wheeler Loan
12. Loan to Doctors
13. Traders Loan
14. Personal Loan
15. Baroda Ashray (Reverse Mortgage Loan)
16. Loan for financing Individuals for subscription to Public Issues /IPO
# Business
Deposits
1. Fixed
> Short Term (Under 12 months)
> Term Deposits (Over 12 months)
2. Current
Loans & Advances
1. Working Capital Finance
2. Term Finance
3. SSI (Small Scale Industries)
4. Baroda SME Loan Pack
5. Small Business Borrowers
6. Traders Loan
Services
1. Remittances (Baroda Money Express)
2. Collection Services
3. ECS (Electronic Clearing Services)
4. Debit Cards
Lockers
Bank of Baroda provide locker to there customers.
# Corporate
Wholesale Banking
Bank has identified the following new business segments as a step toward becoming
Multi Specialist Bank.
1. Wholesale (Large & Mid Corporates)
2. Urban Retail
3. Small & Medium Enterprises
4. Rural/Agri Business
Under Wholesale Banking the corporate customers are identified as Large and Mid
corporates. Companies having annual sales turnover of over Rs. 500 crore are
classified as Large Corporate and those having annual sales turnover between Rs:
100 crore to 500 crore are classified as Mid Corporate.
Under Wholesale Banking it has been proposed that Large & Mid Corporate customer
of the Bank are located at the identified branches for providing them better services.
By locating the Corporates at the identified branches, they would have the following
advantages.
By locating the Corporates at the identified branches, they would have the
following advantages.
1. Single point contact to cater to all the banking requirements of the Corporates.
2. Expeditious decision making and shorter turnaround time.
3. Availability of product specialist who can customize existing products as per the
Corporate’s specific requirements & can also develop new products.
4. Existence of Core Banking Solution facilities & World-class infrastructure.
The Corporate accounts will be served at these branches by the Client Service
Team (CST) of competent credit officers. The team will comprise of :
1. Relationship Manager
2. Relationship Officer
3. Product Specialist
4. Credit officer (dedicated from Corporate Office)
The following are the areas in which Client Service Team can help the Large &
Mid Corporate:
1. Trade Finance products
2. Cash Management Products
3. Treasury Products
4. Bridge Loans
5. Syndicated Loans
6. Infrastructure Loans
7. Cross Currency/Interest Rate Swaps
8. Foreign Currency Loans and many more depending upon the needs of the
Corporates.
Initially 11 important centers at Mumbai, Delhi, Chennai, Bangalore, Hyderabad,
Ahmedabad, Pune, Baroda, Kolkata, Jaipur, and Raipur have been identified for the
rollout of Wholesale Banking.
The Corporates can take advantage of the expertise available at Wholesale Banking
Branches.
Loan and advances
1. Working Capital
2. Line of Credit
3. Export Finance
4. Bill Finance
5. FCNR(B) Loans
6. Bridge Loans
7. Advance Against Shares
8. Loan Against Rent Receivables
9. Term Finance
10. Short Term Corporate Loan
11. Project Finance
12. Infrastructure Finance
13. Takeover of Accounts
14. Non Fund Based Services
For more information about Bank of Baroda please see there website
http://www.bankofbaroda.com (Official website)
