Full Form of BOB, Bank of Baroda

What is BOB

BOB stands for Bank of Baroda. To begin with, it is an Indian-based International banking and financial services company headquartered in Vadodara (previously known as Baroda) in Gujarat, India. Presently, the corporate office of the bank is located in Mumbai. 

Furthermore, it has a network of 8178 branches spread across the country and 94 branches overseas. Currently, Shri Sanjiv Chadha is the Managing Director & CEO of Bank of Baroda.

History of BOB

• In 1908, the Maharaja of Baroda, Sir Sayajirao Gaekward-III established the bank at Baroda. Also, the first branch of BOB was Mandvi, Baroda.
• In 1953, the first two overseas branches of the bank were also opened at Mombasa (Kenya) and Kampala (Uganda).
• In 1957, the bank established its operations in London.
• Next, BOB became the first bank in India to establish Mobile Branches in 1964.
• In 1969, the bank was nationalised by the Government of India and has been selected as the profit-making public sector undertaking (PSU). In addition, "The Bank of Baroda Ltd" was renamed as the "Bank of Baroda" in the same year.
• Furthermore, the bank also achieved the first rank among nationalized banks in terms of total deposits, net profits, and owned funds in 1981.
• In 1985, the bank started computerization and mechanization of operations.
• In 1996, BOB was also one of the first nationalized banks to tap the capital market via the Public Issue of Equity Shares.
• In 2006, the bank also launched core banking solutions and internet banking and also established India’s first SME Loan Factory.
• In 2018, the bank has also launched Baroda Kissan App.
• In 2021, the bank launched end-to-end video KYC-based online account opening.
• In addition, the bank was certified as the "Great Place to Work" by Great Place to Work Institute in 2022.

Popular Products of BOB

Some of the popular products of the Bank of Baroda are also listed below:

• Personal Loan
• Home Loan
• Education Loan
• Gold Loan
• Vehicle Loan
• Mudra Loan
• Savings Accounts
• Fixed Deposit
• Recurring Deposit
• Current Account.

Subsidiaries & Joint Ventures of BOB

Next, we have also shared below the list of Subsidiaries & Joint Ventures of Bank of Baroda for the reference purpose:

• India First Life Insurance Company Limited
• BOB Capital Markets Ltd.
• Baroda BNP Paribas Trustee India Private Limited
• Baroda Global Shared Services Limited
• BOB Financial Solutions Limited
• Baroda BNP Paribas Asset Management India Private Limited
• Nainital Bank Ltd.
• India Infradebt Ltd.
• India International Bank Malaysia Berhad
• Bank of Baroda Botswana Ltd
• Bank of Baroda (New Zealand) Ltd.
• Bank of Baroda (Uganda) Ltd.
• Bank of Baroda (Kenya) Ltd.
• Bank of Baroda (Guyana) Inc.
• Bank of Baroda (UK) Ltd.
• Bank of Baroda (Tanzania) Ltd.
• Indo-Zambia Bank Ltd. (Lusaka)

Achievements of the Bank of Baroda

The list of some of the recent awards achieved by the BOB is elaborated below

• Firstly, the Gujarat University awarded the Bank of Baroda Apex Academy Research Team of Baroda with the 3rd prize in Technology Category for their paper on the technological Development in Banking and Payment Systems theme at the 5th International Youth Symposium.
• Next, the Bank of Baroda was also honored with the ‘Golden Peacock HR Excellence Award’ for the year 2020 for Excellence in Human Resources Management.
• BOB received the Brandon Hall, HCM Excellence award 2019 for the best use of Mobile Learning.
• Bank of Baroda was awarded the Rajbhasha Kirti by Shri Amit Shah, Union Minister of Home Affairs.
• BOB also won 2 awards in The L&D innovation platform and tech summit & awards 2020 for their online Learning initiatives and learning platform implementation.
• Next, BOB got the IPE award for "Best practices in CSR awards-2020" for the livelihood initiative.

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