Headquartered in Vadodara, Gujarat, the Bank of Baroda offers a wide range of banking products and services including credit cards, consumer banking, corporate banking, finance and insurance, Investment banking, mortgage loans, private banking, private equity and wealth management.
The history of this bank dates back to July 20, 1908 when it was founded in the princely state of Baroda in Gujarat by the Maratha, Maharaja of Baroda, H.H. Sir Sayajirao Gaekwad III.
The Bank of Baroda has a large branch network of 5301 branches present globally. These include 5197 Indian and 104 foreign branches. Out of the 5197 Indian branches 1916 are located in rural India. The bank also has 78 controlling offices comprising of 13 zonal offices and 65 regional offices. The Domestic Subsidiaries of the bank are BOBCARDS Ltd, BOB Capital Markets Ltd and Nainital bank Ltd. The overseas subsidiaries of the bank include those in Botswana, Ghana, Guyana, Kenya, New Zealand, Tanzania, Trinidad & Tobago and Uganda. The representative offices are located in Thailand. India First life Insurance Company Ltd and India Infradebt Ltd are its two Joint venture Companies. India First life Insurance Company Ltd is a joint venture between Bank of Baroda (44%) and the Indian state owned bank, Andhra Bank (30%) and the Legal and General UK’s financial and investment company. It was incorporated in November 2009.
Started with a paid up capital of Rs. 10 lakhs this bank now has a balance sheet size of Rs. 659504.53 Cr. and market capitalization of Rs. 35507.23 Cr. (as of March 2014).