History of Bank of Baroda :-

Bank of Baroda is an Indian state-owned banking and financial services company headquartered in Vadodara (earlier known as Baroda) in Gujarat, India. It is the second-largest bank in India, after State Bank of India, and offers a range of banking products and financial services to corporate and retail customers through its branches and through its specialised subsidiaries and affiliates. Its headquarters is in Vadodara, it has a corporate office in the Bandra Kurla Complex in Mumbai.

Based on 2014 data, it is ranked 801 on Forbes Global 2000 list.  BoB has total assets in excess of ₹ 3.58 trillion, a network of 5307 branches in India and abroad, and over 8000 ATMs. 

The bank was founded by the Maratha, Maharaja of Baroda, H. H. Sir Sayajirao Gaekwad III on 20 July 1908 in the Princely State of Baroda, in Gujarat. The bank, along with 13 other major commercial banks of India, was nationalised on 19 July 1969, by the Government of India and has been designated as a profit-making public sector undertaking (PSU).

Subsidiaries:-

BOB Capital Markets (BOBCAPS) is a SEBI-registered investment banking company based in Mumbai, Maharashtra. It is a wholly owned subsidiary of Bank of Baroda. Its financial services portfolio includes initial public offerings, private placement of debts, corporate restructuring, business valuation, mergers and acquisition, project appraisal, loan syndication, institutional equity research, and brokerage.

Bobcards Ltd is a credit card company, 100% subsidiary of Bank of Baroda. The company is in the business of Credit cards, Acquiring Business & back end support for Debit cards operations to Bank of Baroda. Bank of Baroda had introduced its first charged card named BOBCARD in the year 1984. The whole operation of this plastic card was managed by Credit card division of Bank of Baroda. It established a wholly owned subsidiary, Bobcards Limited in the year 1994 to cater to the need of rapidly growing credit card industry in a focused manner. BOBCARDS Ltd is the first Non-banking company in India issuing credit cards

International presence:-

In its international expansion, the Bank of Baroda followed the Indian diaspora, especially that of Gujaratis. The Bank has 104 branches/offices in 24 countries including 61 branches/offices of the bank, 38 branches of its 8 subsidiaries and 1 representative office in Thailand. The Bank of Baroda has a joint venture in Zambia with 16 branches.

Affiliates:-

India First Life Insurance Company is a joint venture between Bank of Baroda (44%) and fellow Indian state-owned bank Andhra Bank (30%), and UK’s financial and investment company Legal & General (26%).  It was incorporated in November, 2009 and has its headquarters in Mumbai. The company started strongly, achieving a turnover in excess of ₹ 2 billion in its first four and half months.