bob ms 2003
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Indias International Bank
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Position.
Bank of Baroda (BoB) (BSE: 532134)(Hindi: ) is the third largestbank in India, after the State Bank of India and
the Punjab National Bank and ahead of ICICIBank. BoB is ranked 763 in Forbes Global2000 list. BoB has total assets in excess of Rs.3.58 lakh crores, or Rs. 3,583 billion, a
network of over 3,409 branches and offices,and about 1,657 ATMs. It plans to open 400new branches in the coming year.
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General information.
TypePublic
Traded as BSE: 532134
Industry- Banking, Financial services
Founded- 1908
Headquarters- Vadodara, India
Area served- Worldwide
Key people -M. D. Mallya(Chairman & MD)
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Contd..
Products- Credit cards, consumer banking,corporate banking, finance andinsurance, investment banking, mortgageloans, private banking, private equity, wealth
management Revenue- 25,800 crore (US$5.68 billion)(2011)
Net income- 4,433 crore (US$975.26million)(2011)
Total assets- 355,826 crore (US$78.28billion)(2011)
Website- www.bankofbaroda.com
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International presence
In its international expansion, the Bank of Baroda followed theIndian diaspora, especially that of the Gujaratis. It hassignificant international presence with a network of 72 officesin 25 countries, six subsidiaries, and four representative
offices. Among the Bank of Barodas 85 overseas branches are ones in
the worlds major financial centers (e.g., NewYork, London, Dubai, Hong Kong (which it has upgradedrecently), Brussels and Singapore, as well as a number in other
countries. The bank is engaged in retail banking via 17branches of subsidiaries in Botswana, Guyana, Kenya,Tanzania, and Uganda.
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Contd..
The Bank has also received permission to startits operations in countries like Trinidad andTobago, Ghana, Bahrain, South
Africa, Kuwait, Canada, New Zealand, SriLanka, Bahrain, Saudi Arabia, Russia, UnitedKingdom, the United Arab Emirates,and Botswana.
The slogan of Bank of Baroda is "India'sInternational Bank".
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Business Strategy
Focus on marketing their credit products to large and
medium sized industrial units and infrastructure
projects
Grow their international operations Continue growing their retail banking business
Strengthen their priority sector banking business
Entering new areas businesses, alliances and strategicacquisitions
Building their corporate image and their Bank of
Baroda brand
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Corporate Banking
General -
They provide commercial banking products and
services to corporate customers including mid-sized
and small businesses and government entities. Theirproducts include term loans, advances for the
acquisition, construction or improvement of assets.
They also offer fee based services such as cash
management and remittance services. In addition,their subsidiary BOB Caps provides a full range of
appraisal and merchant banking services.
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Loans and advances
Working Capital Finance
Term Finance
Short term corporate loans Loans to Small and Medium sized borrower
Project Finance
Infrastructure Finance Loan against Future Rent Receivables
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Corporate Products and Service
Foreign Currency Credits
External Commercial Borrowings
Export Credits Import Finance
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Personal loan
Baroda Housing Loan
Baroda Home Improvement Loan
Baroda Education Loan
Baroda car & Two Wheeler loan
Baroda Consumer Durables Loan
Baroda Personal Loans and Marriage Loan
Baroda Vaibhav Lakshmi
Baroda Festival Loans
Baroda Loans against Future Rent Receivable
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International Operation
Their international operations have a
considerable history with their first overseas
branch in Mombassa, Kenya in 1953. Their
wide spread reach provides gives themdiversity of business and a wide customer
reach. They offer a variety of banking services
through their international network, whichvary from country to country.
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Offshore Banking
One of the few banks that have been granted
permission by the Government of India and
RBI to operate offshore banking units. They
have opened their Offshore Banking Unit(OBU) in SEEPZ(Santacruz Electronics
Export Processing Zone), Mumbai in addition
to their OBUs in Mauritius and Bahamas.These OBUs provide various foreign currency
asset and liability products and services.
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Correspondent Banking
The extensive worldwide network of branches
are able to offer correspondent banking
services to other Indian banks as well as banks
from other countries. In particular, their NewYork, Brussels and London branches are
equipped with the latest technology and trained
staff to provide services in Nostro accounts inUnited States Dollars, Euros and Great Britain
Pounds respectively.
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Contd
The main services provided through their
correspondent banking network include
collection of bills, advising and confirming
letters of credit issued by other banks,discounting of bills drawn under letters of
credits, maintenance of foreign currency
accounts, and handling remittances on behalfof other banks.
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Overseas Expansion
They intend to grow their operations through thefollowing expansion overseas:
They have received RBI approval for the openingof additional offices in Bangladesh, Canada,Maldives, New Zealand, Sri Lanka, Trinidad, andTobago.
They are awaiting host country approval for theopening of a branch in Houston, USA, a branch at
Hong Kong and an OBU in Singapore. They have undertaken feasibility studies for the
opening of an office in Australia.
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Deposit Products
Fixed Deposit Accounts
Current Deposits
Premium Current Account General Savings Account
Super Savings Account
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Deposits by Non-Resident Indian
Through the wide network of foreign
branches, offices and correspondent relations
at various business locations around the world,
they actively seek banking business from Non-Resident Indians (NRIs). They seek to
satisfy the comprehensive banking needs of
NRIs by providing a wide range of services,including deposit products in Indian and
foreign currencies.
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Facilities to Returning Indians
Returning Indians i.e. those who were Non- Residents earlier and
are returning now for permanent stay, are permitted to open
hold and maintain a RFC account in India to keep their -
foreign currency assets acquired, owned and held outside India
and brought to India at the time of returning for permanent
stay
foreign exchange received as pension or any other
superannuation or other monetary benefits from his employer
outside India
foreign exchange received or acquired when he was resident
outside India as gift or inheritance from a person resident
outside India
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Non-Resident accounts
Ordinary Non- Resident AccountsOrdinary non-resident accounts will be redesignated
to resident accounts in India on return of the account
holder to India and consequently becoming resident in
India Non-Resident (External) Rupee Accounts
NRE accounts will also be converted to resident
rupee accounts or RFC accounts at the option of theaccount holder on his return to India and becoming
residents in India. In case of NRE Fixed Deposit, the
accounts will continue to earn agreed rate of interest till
maturity even after these being converted to resident
account.
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FCNR Accounts
FCNR accounts will be converted to residentrupee accounts or RFC account at the option ofthe account holder on his return to India and
becoming resident in India. In case the account isconverted to resident rupee account, the foreigncurrency amount will be converted to IndianRupees at applicable exchange rate ruling on the
day of conversion. Interest on the new depositwould be payable at the relevant rate applicableon such deposit
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RFC Accounts
In case the amount is transferred to RFC
account, the rate of interest applicable to RFC
account will be payable. You can also open
RFC account with the ASSETS brought by youon return as well as your foreign assets held
abroad, at any future date, should you so desire
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Other Banking Services
Credit Cards
Debit Cards
Cash Management and Remittance
Collection Services Insurance
Information based Internet and Mobile Banking
Services (I- BoB and M-BoB) Safe Deposit Lockers
BillDesk
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