Bank of Baroda was set up in 1908, by Maharaja Sayajirao Gaekwad III. Mr. P. S. Jayakumar serves as the CEO of the bank.
Headquartered in Vadodara, Bank of Baroda has total 5400+ branches of which 100+ are overseas branches, and has grown rapidly in its operations with excellent service innovation, branding and marketing. Its corporate office is in Mumbai and it has overseas business operations in 24 countries.
Bank of Baroda has a network of 8291 ATMs. It is second largest lender of India. Bank of Baroda had a revenue of Rs. 44061.27 crore in latest financial year (2015-16). Its loss stood at Rs. 5395.55 crore. It has total market capitalization of Rs. 31900.96 crore. Bob's gross NPAs were just below 10% in the financial year 2015-16 at 9.99%. It borrowed loans for small terms (3 to 4 months) from many banks.
Bank of Baroda is in news these days also due to a fraudulent transactions of Rs. 6000 crore. The scam involved remittance of Rs. 6172 crore to Hong Kong from Bank of Baroda. This money was for payment of non-existent imports of cashews, pulses and rice. Bank of Baroda has a financial inclusion drive to cover villages. The transactions were carried out from 59 accounts of Bank of Baroda's Ashok Vihar branch of Delhi. The invoices for the export were generated by Hong Kong importers but the exports were sent to Afghanistan. As of 30th June 2015, it had covered 22,031 villages. Bank of Baroda is planning to open more branches in more countries. The bank is active in mainly three segments - personal banking, business banking and corporate banking.