- Bank of Baroda (BOB) was founded in 1908 in Baroda, India as the third largest public sector bank.
- It was established by Maharaja Sayajirao Gaekwad III of Baroda with a paid up capital of Rs 10 Lacs.
- As of 2012, BOB had over 4,267 branches including 70 overseas with total staff of over 43,587 serving over 29 million customers globally.
- Over the years, BOB has expanded through mergers and acquisitions of other banks, and by opening branches within India and overseas in countries like Uganda, Kenya, New Zealand and UAE.
2. • Third largest Public Sector bank in India,
• after State Bank of India and Punjab
National Bank
• Founded in 1908
• Headquartered at Baroda
• It has total of 4267 branches including 70
overseas
• Has a total staff of 43587
• CMD of BOB is M.D.Mallaya
3. It all started with a visionary of Maharaja of
Baroda, H.H. Sir Sayajirao Gaekwad III’s uncanny
foresight into the future of trade and
enterprising in his country. On 20th July
1908, under the Companies Act of 1897, and
with a paid up capital of Rs 10 Lacs started the
legend that has now translated into a
strong, trustworthy financial body, THE BANK OF
BARODA.
4. • 1908: Maharaja Sayajirao Gaekwad III set up Bank of Baroda (BOB).
• 1910: established its first branch in Ahmedabad
• 1953: established a branch in Mombasa and another in Kampala
• 1959: acquired Hind Bank.
• 1961: merged in New Citizen Bank of India. This merger helped it
increase its branch network in Maharashtra
• 1969: The Government of India nationalized 14 top banks, including
BOB
• 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
• 1998:BOB also acquired Punjab Cooperative Bank in a rescue.
5. • 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.
• 2009: Bank of Baroda registered with the Reserve Bank of
New Zealand, enabling it to trade as a bank in New Zealand
• 2010 : In 2010, Malaysia awarded a commercial banking
license to a locally incorporated bank to be jointly owned by
Bank of Baroda, Indian Overseas Bank and Andhra Bank.
That same year, BOB also opened a branch in New Zealand.
• 2011 : In 2011, BoB opened an Electronic Banking Service
Unit (EBSU) was opened at Hamriya Free Zone, Sharjah
(UAE). It also opened four new branches in existing
operations in Uganda, Kenya, and Guyana
13. Apart from the Loans, Deposits, Credit and
Debit Cards, Bank of Baroda offers other services to
make financial dealings easy and convenient.
• Demat
• Baroda health
• Remittances( Baroda money express)
• Collection services
• ECS(electronic clearing services)
• Government business(PPF , tax collection and
savings bonds)
14. • Reorienting its systems and procedures towards
customer convenience and enhanced customer
satisfaction.
• Formulating and adhering to the best corporate
governance practices.
• Focusing on a consistent and broad-based
resource mobilization plan.
• Enlarging the base of retail customers by
leveraging technology and taking newer
technology based initiatives.