BOB Full Form | Full Form of BOB
BOB Full Form - Bank of Baroda
Bank of Baroda
- BOB stands for Bank of Baroda. It's a world banking and financial services company based in India.
- It's headquartered at Vadodara in Gujarat, India. Its corporate office is found in Mumbai.
- At the present, it's a network of 3454 branches spread throughout the country and 86 branches overseas.
- At the present, as of June 2018, Shri P.S. Jayakumar is that the managing director and CEO of Bank of Baroda.
Major Services of Bank of Baroda
- Retail Banking : In includes loans, deposits, debit card, credit card, demat services etc.
- Rural and Agri Banking : It includes agricultural loans, locker services, deposits etc., for rural customers and sectors associated with agriculture.
- Corporate Banking : It includes project finance, foreign currency loans, working capital finance, and treasury products for the corporate sector.
- SME Banking : It includes products and services for SME sector.
- Wealth Management : It provides wealth management services to companies within the field of insurance and mutual funds.
- The Maharaja of Baroda, Maharaja Sayajirao Gaekwad III founded the Bank of Baroda on 20 July 1908.
- In 1953, it established its branches in Mombasa and Kampala.
- In 1957, it opened a branch in London.
- In 1958, it acquired the Hind Bank which was the primary domestic acquisition of Bank of Baroda.
- 1n 1961, the New Citizen Bank of India merged with BOB.
- In 1963, it acquired Surat Banking Corporation at Surat in Gujarat.
- In 1965, it opened a branch in Guyana.
- On 19 July 1969, it had been nationalized by Govt. Of India and recognized as a profit-making public sector undertaking (PSU).
- In 1972, it acquired the operations of Bank of India based in Uganda and after two years opened branches in, Dubai and Abu Dhabi.
- In 1980,it opened a representative office in Sydney, Australia and a branch in Bahrain.
- In 1996, it entered the capital market with an Initial Public Offering.
- In 2006, it established an Offshore Banking Unit (OBU) in Singapore.
- In 2011, it opened an Electronic Banking Service Unit (EBSU) at Hamriya free zone , Sharjah (UAE).