is a bank in India established on July 20 , 1908 in the Princely State of Baroda , in Gujarat . The bank, along with 13 other major commercial banks of India, was nationalisd on 19th July , 1969 , by the Government Of India .
In its international expansion Bank of Baroda followed the Indian diaspora, and especially that of the Gujarat is.
- . BOB also opened a branch in Fiji .
- .
- Banking Corporation.
- and Tamilnadu Central Bank in Madras state.
- 1964: BOB lost its branch in Narayanjanj (East Pakistan) due to the Indo-Pakistan war. It is unclear when BOB had opened the branch.
- .
- 1967 : The Tanzanian government nationalized BOB’s three branches there and transferred their operations to the Tanzanian government-owned National Banking Corporation.
- as a 51% subsidiary, with the government owning the rest.
- ’s operations in Uganda.
- and Abu Dhabi .
- .
- and another in Brussels . The Brussels branch was aimed at Indian firms from Mumbai ( Bombay ) engaged in diamond cutting and jewellery having business in Antwerp , a major center for Diamond Cutting .
- .
- 1979 : BOB opened a branch in Nassau, the Bahamas.
- , Australia. BOB, Union Bank of India and Indian Bank established IUB International Finance, a licensed deposit taker, in Hong Kong . Each of the three banks took an equal share.
- 1985 : BOB (20%), Bank of India (20%), Central Bank of India (20%) and ZIMCO (Zambian government; 40%) established Indo-Zambia Bank Ltd. (Lusaka). BOB also opened an Offshore Banking Unit (OBU) in Bahrain.
- 1988 : BOB acquired Traders Bank, which had a branch network in Delhi.
- , but closed its representative office in Sydney.
- (P&S). P&S’s branch had been established before 1970 and Union Bank’s after 1980. The Reserve Bank Of India ordered the takeover of the two following the banks' involvement in the Sethia fraud in 1987 and subsequent losses.
- 1993 : BOB closed its OBU in Bahrain.
- ( IPO ). The Government of India is still the largest shareholder, owning 66% of the bank's equity.
- .
- 1998 : BOB bought out its partners in IUB Intl. Fin. In Hong Kong. Apparently this was a response to regulatory changes following Hong Kong’s reversion to the Peoples Republic of China. The now wholly-owned subsidiary became Bank of Baroda (Hong Kong), a restricted license bank. BOB also acquired Punjab Cooperative Bank in a rescue.
- 1999 : BOB acquired Bareilly Corporation Bank in another rescue. In Guyana, BOB incorporated its branch as a subsidiary, Bank of Baroda Guyana.
- 2000 : BOB established Bank of Baroda Botswana.
- 2002 : BOB acquired Banares State Bank at the Reserve Bank of India’s request.
- 2003 : BOB opened an OBU in Mumbai.
- 2004 : BOB acquired a failed Local Area Bank in India, and returned to Tanzania by establishing a subsidiary there.
- 2004 : BOB opened a representative office in Kuala Lumpur, Malaysia.
- (RBI), has approved a joint venture between BOB, Bank of Maharashtra (BOM), and Oriental Bank of Commerce (OBC) to set up a bank in Malaysia. The new bank will reside in Kuala Lumpur , which has a large population of Indians. The initial capital required will be US$78 million; BOB will invest 40%, and the other two banks will invest 30% each. The JV is awaiting approval from the Malaysian Central Bank
- Tripathi, Dwijendra and Priti Misra (1985). ''Towards a New Frontier: History of the Bank of Baroda, 1908-1983''. (New Delhi, India: Manohar).
|
