Bank of Baroda
| Bank of Baroda | |
|---|---|
| legal form | Corporation |
| ISIN | INE028A01039 |
| founding | July 20, 1908 |
| Seat |
Vadodara , India
|
| management | PS Jayakumar |
| Number of employees | 52,420 (2017) |
| sales | 5.6 billion US dollars (2017) |
| Website | www.bankofbaroda.com |
The Bank of Baroda (BoB) is an Indian multinational public banking and financial services company. It is owned by the Indian government and is headquartered in Vadodara ( Gujarat ). It has its corporate office in Mumbai ( Maharashtra ). With total assets of around 100 billion US dollars, it is the second largest bank in the country and has a network of 5,538 branches in India and abroad as well as 10,441 ATMs (as of July 2017). The bank is on the Forbes Global 2000 list of the 2000 largest publicly traded companies worldwide in 2018 .
The bank has 107 branches and offices in 24 countries (outside India), including 61 branches of the bank itself, 38 branches of its 8 subsidiaries and a representative office in Thailand . The Bank of Baroda also has a joint venture in Zambia with 16 offices.
The foreign branches of the Bank of Baroda include offices in the world's major financial centers (including New York City , London , Dubai , Hong Kong , Brussels and Singapore ) and in other cities.
history
The bank was founded in 1908 by Sayajirao Gaekwad the 3rd , the then Maharajah of Baroda in what is now Gujarat . In 1956 it opened branches in Kenya and Uganda , which were primarily aimed at the Indian diaspora living there. In 1957 BoB took a big step abroad and opened a branch in London.
In 1958, BoB acquired Hind Bank ( Calcutta ; founded in 1943), which became BoB's first domestic takeover. So far, 10 other banks have been merged with the Bank of Baroda. The bank was nationalized by the Indian government on July 19, 1969, along with 13 other major commercial banks in India.
The Indian government announced the merger of Bank of Baroda, Vijaya Bank and Dena Bank on September 17, 2018 to create the third largest lender in the country. The merger was approved by the Union cabinet and the banks' boards on January 2, 2019. The merger will take effect on April 1, 2019.
Individual evidence
- ↑ Bank of Baroda Branches . bankifsccodes.co.in. Archived from the original on December 10, 2014. Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. Retrieved May 9, 2014.
- ^ Bank of Baroda on the Forbes Global 2000 List. Retrieved March 20, 2019 .
- ^ Bank of Baroda - India's International Bank - About Us - The Heritage .
- ↑ Dheeraj Tiwari: After SBI merger, now Punjab National Bank and Bank of Baroda may take over smaller lenders . In: The Economic Times , April 18, 2017.
- ↑ Bank of Baroda, Vijaya Bank, Dena Bank send merger proposal for govt nod . In: Economic Times . Retrieved October 9, 2018.
- ^ Vijaya Bank, Dena Bank merger with BoB to be effective from April 1; here's the share exchange plan . Retrieved March 14, 2019.
