About
Bank of Baroda (BOB) is the third largest public sector bank in India. It is a multinational public sector bank. The bank was established in July 1908 in Baroda, Gujarat. The government of India nationalised the bank on 19 July 1969 along other large commercial banks including SBI.
Listing and Revenue
BOB is listed on both NSE and BSE.
| Revenue | ₹ 91,086 crore |
| Operating Income | ₹ 20,470 crore |
| Net Income | ₹ 927 crore |
| Total Assets | ₹ 1,199,942 crore |
Products and Services
BOB offers a host of products and services including mobile banking, savings account, credit card, internet banking, current account, mudra loan, auto loan, education loan, home loan, personal loan, fixed deposit, recurring deposit, and NRI services among others.
History
In 1908, Maharaja Sayajirao Gaekwad III founded Bank of Baroda (BoB) along with other industrialists including Sampatrao Gaekwad, Tulsidas Kilachand, Ralph Whitenack, Vithaldas Thakersey, and NM Chokshi.
In 1910, BOB launched its first branch in Ahmedabad. Then in 1953, BOB established a branch each in Mombasa and Kampala.
In 1957, BOB opened a branch in London.
Acquisition
In 1958 Bank of Baroda took over Hind Bank. It was BOB's first domestic acquisition in India. BOB merged with Vijaya Bank and Dena Bank on April 1, 2019.
Awards and Recognitions
BOB has won Brandon Hall, HCM Excellence award 2019 - Best use of Mobile Learning, World HRD Congress -2019 - Best Use of Technology “ Baroda Radio” & Innovation in Training “Life begins at 60”.
In 2020, it won L&D innovation platform and tech summit & awards 2020 - Best use of Online Learning – Baroda Radio & Best Learning Platform implementation of the year – Baroda Gurukul.
It also won Rajbhasha Kirti award by Shri Amit Shah, Union Minister of Home Affairs among others.
Subsidiaries
BOB Capital Markets (BOBCAPS) is a wholly owned subsidiary. It is SEBI-registered investment banking arm based in Mumbai, Maharashtra.
In 1973, Reserve Bank of India appointed Bank of Baroda to manage the affairs of the Nainital Bank Limited.
Its other subsidiaries are BOB Financial Solutions Limited, India First life Insurance Company Limited (44%), Baroda Asset Management India Limited, India Infradebt Limited (40.99%), BOB (UK) Limited, and Baroda Global Shared Services Ltd.