TARGET IBPS CLERK INTERVIEW: Learn about a bank: =========================================== Bank of Baroda ================ Type: Public Traded as: BSE: 532134 Industry: Banking, Financial services Founded: 20 July 1908 Founder: Maharaja Sayajirao Gaekwad Headquarters: Vadodara (Baroda), India Area served: Worldwide Key people (Chairman & MD) Products: Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, wealth management Revenue INR346 billion (US$5.4 billion) (2012) KEY POINTS ========== Bank of Baroda (BoB) (Hindi: ???? ??? ??????) is an Indian state-owned banking and financial services company headquartered in Vadodara (earlier known as Baroda) in Gujarat, India. It is the second-largest bank in India, after State Bank of India, and offers a range of banking products and financial services to corporate and retail customers through its branches and through its specialised subsidiaries and affiliates. Based on 2012 data, it is ranked 715 on Forbes Global 2000 list BoB has total assets in excess of INR 3.58 trillion, a network of 4913 branches in India, and over 2000 ATMs The bank was founded by the Maratha, Maharaja of Baroda, H. H. Sir Sayajirao Gaekwad III on 20 July 1908 in the Princely State of Baroda, in Gujarat. The bank, along with 13 other major commercial banks of India, was nationalised on 19 July 1969, by the Government of India and has been designated as a profit-making public sector undertaking (PSU). Bank of Baroda is one of the Big Four banks of India, along with State Bank of India, ICICI Bank and Punjab National Bank. Then in 1953 it crossed the Indian Ocean to serve the communities of Indians in Kenya and Indians in Uganda by establishing a branch each in Mombasa and Kampala. The next year it opened a second branch in Kenya, in Nairobi, and in 1956 it opened a branch in Tanzania at Dar-es-Salaam. Then in 1957 BoB took a giant step abroad by establishing a branch in London. London was the center of the British Commonwealth and the most important international banking center. In 1958 BoB acquired Hind Bank (Calcutta; est. 1943), which became BoBs first domestic acquisition. In 1961, BoB merged in New Citizen Bank of India. In 1963, BoB acquired Surat Banking Corporation in Surat, Gujarat. The next year BoB acquired two banks: Umbergaon People’s Bank in southern Gujarat and Tamil Nadu Central Bank in Tamil Nadu state. In 1965, BoB lost its branch in Narayanjanj (East Pakistan) due to the Indo-Pakistani War of 1965. It suffered a second loss of branches when the Tanzanian government nationalised BoB’s three branches there at (Dar es Salaam, Mwanga, and Moshi), and transferred their operations to the Tanzanian government-owned National Banking Corporation. In 1969 the Indian government nationalised 14 top banks, including BoB. BoB incorporated its operations in Uganda as a 51% subsidiary, with the government owning the rest. In 1972, BoB acquired Bank of Indias operations in Uganda Back in India, 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. A second consortium or joint-ventrue bank followed in 1985. BoB (20%), Bank of India (20%), Central Bank of India (20%) and ZIMCO (Zambian government; 40%) established Indo-Zambia Bank in Lusaka. In 1996, BoB Bank entered the capital market in December with an Initial Public Offering (IPO). In 2002 BoB acquired Benares State Bank (BSB) at the Reserve Bank of India’s request. In 2004 BoB acquired the failed Gujarat Local Area Bank. In 2004 BoB acquired the failed Gujarat Local Area Bank. Subsidiaries ------------------- BOB Capital Markets (BOBCAPS) is a SEBI-registered investment banking company based in Mumbai, Maharashtra. It is a wholly owned subsidiary of Bank of Baroda.Its financial services portfolio includes initial public offerings, private placement of debts, corporate restructuring, business valuation, mergers and acquisition, project appraisal, loan syndication, institutional equity research, and brokerage. Bank of Baroda and Manipal University have established the Baroda Manipal School of Banking, which offers a Postgraduate Diploma in Banking & Finance (PGDBF) from Manipal University. The duration of the course is just one year, after which, successful graduates will join Bank of Baroda as management trainees. IndiaFirst Life Insurance Company is a joint venture between Bank of Baroda (44%) and fellow Indian state-owned bank Andhra Bank (30%), and UK’s financial and investment company Legal & General (26%). It was incorporated in November, 2009 and has its headquarters in Mumbai.
Posted on: Mon, 19 Jan 2015 05:49:24 +0000
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