Bank of Baroda Profile

PROFILE

BACKGROUND AND INCEPTION:

Established on July 20, 1908 by Maharaja of Baroda Sir Sayajirao Gaekwad III, in the princely state of Baroda, in Gujarat. The bank, along with 13 other major commercial banks of India, was nationalized on 19th July, 1969, by the Government of India.

Bank of Baroda is the fifth largest bank in India. It has total assets in excess of Rs. 1.78 lakh crores, or Rs. 1,780 bn., a network of over 2800 branches and offices, and about 1000+ ATMs. Bank of Baroda offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialized subsidiaries and affiliates in the areas of investment banking, credit cards and asset management.

ORIGIN OF BANK

Prior to independence from the British Rule, the ancient India was ruled by princely states, scattered over the width and breadth of the large Indian nation. The Maharajas of the inner States of colonial India contributed to the welfare of their respective regions as well as the Indian nation as a whole. Their vision and foresight in founding various financial, charitable, social and philanthropic organizations during their time is still cherished by any one going into the history of modern India and its achievements in every walk of life.

The Maharaja of Baroda, a princely state of British India, by name Sir Sayyajirao Gaekwad III, had the same vision in establishing a bank for servicing the public at large and the citizens of Baroda State, a Gujarathi population in particular. On 20th July 1908, Bank of Baroda was established under the rules of Companies Act 1897, in a small building at Baroda, by the Maharaja with a paid up capital of Rs.10 lakhs. The guidelines set by the Maharaja for the bank was to serve the people of the State of Baroda as well as the neighboring regions with money lending, saving, transmission and encouraging the development of arts, science, commerce and trade for the people.

Even during the worst financial disaster caused by the First World War, during the period 1913 to 1917, when as many as 87 banks closed their shutters, Bank of India survived the turbulence with its clear vision, ethical standards and financial prudence to grow from strength to strength. There were heroes to sustain the development of this bank to its present glory, from ordinary people as customers and the heirs of the Royal family of Baroda.

The success story of the Bank of Baroda is studded with many a leaps and strides it made in the International presence, apart from establishing branches all over the Indian nation, by acquisition of already popular banking entities, as also commencing new commercial banking establishments, in the unique Gujarathi style. During the years of 1908 to 2007 (and the century year being round the corner) Bank of Baroda’s growth owes to the excellence in rendering financial products and services to the national and international population. Countries beginning from America to Zambia, in the alphabetical order have been enjoying the services of Bank of Baroda as of today.

A brief statistics will reveal the magnitude of growth Bank of India has achieved today : fifth largest bank in India; total assets over 1,78,000 crores; number of offices and branches 2800; more than 1000 ATMs, notwithstanding affiliates, subsidiaries and delivery channels all over the world.

Management Team

Mr. M D Mallya

Chairman & Managing Director

Bank of Baroda.

Mr. R K Bakshi

Executive Director

Bank of Baroda

Mr. N S Srinath

Executive Director

Bank of Baroda

Mr. K D Lamba

Chief Executive

Bank of Baroda European Operations

NATURE OF THE BUSINESS CARRIED

Bank of Baroda, a premier Public Sector Bank from India, commenced its operations in Singapore on September 19, 2006, as an Offshore Branch. Bank of Baroda, which celebrated its centenary year, has over 3000 branches across the length and breadth of India and has its footprints in 25 countries across 78 offices across the globe.

Its Offshore Branch in Singapore offers a wide variety of products and services to individuals as well as institutional customers, which include acceptance of deposits in major currencies, syndicated loan, trade finance and other allied services in foreign exchange and corporate finance.

VISSION, MISSION AND QUALITY POLICY

MISSION

“Our mission is to be a top ranking National Bank of International Standards committed to augmenting stake-holders' value through concern, care and competence”.

VISSION

· To evolve as a Retail organization.

· To evolve as a retail banker of preferred choice in the chosen markets.

· To permeate sale and service culture across the organization.

· To meet the life cycle and life style needs of consumers matching with their rising aspirations.

QUALITY POLICY

To provide loan and be competitive in area where bank operates as per quality system of ISO 9001:2000 certification for 15 branches. By end of the current financial, the Bank is targeting 54 more branches for this quality certification.

PRODUCT or SERVICES IN BANK

· Retail Banking

· Rural/Agri Banking

· Wholesale Banking

· SME Banking

· Wealth Management

· Demat

· Product Enquiry

· Internet Banking

· NRI Remittances

· Baroda e-Trading

· Interest Rates

· Deposit Products

· Loan Products

· ATM / Debit Cards

Personal Services

· Deposits

· Gen-Next

· Loans

· Credit Cards & Debit Cards

· Services

· Lockers

Corporate Services

· Wholesale Banking

· Deposits

· Loans

· Advances

· Services

International Services

· NRI Services

· FGN Currency Credits (Foreign Currency Credits)

· ECB (External Communication Borrowings)

· FCNR (B) Loans

· Offshore Banking

· Finance in Export and Import

· Correspondent Banking Facility

· International Treasury

Treasury service of Bank of Baroda includes Domestic operations and Forex operations.

Domestic Services

· Deposits

· Priority Sector Advances

· Services

· Lockers

Priority Sector Advances

· Small Scale Industries

· Small Business

· Retail Loans

· Schemes sponsored by the GOI (Government of India)

· Baroda General Credit Card Scheme (BGCC)

· Agriculture related Loans

AREA OF OPERATION

Bank of Baroda had a worldwide network of over 3000 branches, out of which 637 were located in Metro cities, 540 in urban areas, 649 in Semi-Urban locations, 1100 in Rural areas and 74 outside India.

OWNERSHIP PATTERN

Share Holding Pattern

Bank of Baroda share holding pattern
Entity	Percentage
Govt of India	53.80%
Domestic Institutions	22.10%
Foreign Institutional Investors	14.2%
Others	9.90%

COMPETITORS INFORMATION

· State Bank of India

· Punjab National Bank

· Bank of India

· Canara Bank

· Union Bank

· IDBI Bank

· Oriental Bank

· Central Bank

INFRASTRUCTURAL FACILITIES

· Fully Computerized Bank

· Core banking

· Mobile banking

· Training Institutions

· Internet Facility.

ACHIEVEMENTS or AWARDS

AWARD

· The bank has received several awards during the calendar 2010 for its consistent outstanding performance (both business & financial), superior management, dedication to excellence and contribution to rural economy and financial inclusion.

· It is the only Indian bank whose "Rank" has improved by 69 notches in just a year's time from 283 to 214 in the Banker's (London) Top 1000 World Banks.

To list a few select awards that the bank has received in the recent past,

· Business India's "Best Bank" award for the year 2010

· Dainik Bhaskar - DNA India Pride Award 2010 - A Silver Trophy

· Runner up in Financial Express Best Bank Awards under the Nationalised Bank Category

· Innovative Brand Builder Award by CMO Asia Awards, Singapore

· Skoch Challenger Award for "Bank of the year"

Finally, if the credit amount is more than the limits of Circle Office, then Head Office will be approached for sanction.

GROWTH AND PROSPECTS

At Bank of Baroda, change is a journey. It has a beginning. There will be no end. It will be a long & difficult march. And the Bank will emerge stronger, more resilient and positioned to become India's first bank of truly global standards. The relocation to the imposing Baroda Corporate Centre is a true reflection of the Bank's resolve to move ahead of the times. It will not be out of place now, as it stands on the threshold of a digital era, to echo the same sentiments that guided the Bank in its platinum jubilee year -'a promising future is the sequel to a glorious part'.