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Bank of Baroda, one of premier Public Sector Banks of India, has transformed itself into a financial conglomerate in its journey of 99 years and has today a network of over 2700 branches in India, spread across the length and breadth of the country. The Bank's overseas foray began way back in 1953 with the opening its first branch in Kenya at Mombassa. The exploration of international expansion continues till today and the Bank has reached an impressive presence of 60 offices in 21 countries spread over five continents. With the recent opening of an offshore branch in Singapore, the Bank has now foot hold in major financial centers of the world - London, New York, Dubai, Brussels, Hong Kong, Singapore etc.
The Bank has a unique distinction of posting profits year-after-year uninterruptedly since its inception. The Bank’s strong financial fundamentals, coupled with consistent track record of profitability, provide a robust launching pad for pursuing ambitious business goals. The Bank is ranked 416 in the world in terms of Tier I capital by The Banker’ London in July 2006. The Bank provides a complete range of products and services to its customers - individual, retail, SMEs, corporates. It also specializes in providing trade finance, cross border and treasury solutions to its around 29 million global customers. A series of recent customer centric initiatives and adoption of world class technology platform puts the Bank a step closer in providing higher order of customer convenience banking. The Internet banking makes it possible to conduct banking transactions from customers place.
The Bank is endeavoring to increase its global reach further by having plans to enter into Trinidad & Tobago, Canada, New Zealand, Isle of Man, Australia, GCC countries - Kuwait, Qatar, Bahrain, Saudi Arabia, BRIC countries - Russia and Brazil and in Africa - Ghana, Mozambique, etc. besides expanding in existing countries in order to provide end to end solution to its customers. The Bank is looking for overseas expansion both organically and inorganically. The Bank adopts "country-specific strategy", a mix of retail and wholesale business, quick product innovations and increase of delivery channels viz. ATMs, telephone/internet banking, debit and credit cards to meet customers’ aspirations and requirements, besides specializing in catering to the niche segment i.e. NRIs and India related business in all the countries where it operates. In fact, the Bank has always been working like a local bank in respective countries. The drivers of expansion over the years have undergone a change. Creation of regional synergies between various overseas operations of the bank, the flow of trade and investment between the countries and India, the acquisitions by Indian Multinationals in overseas territories, the vast presence of NRIs across the globe etc, drive the overseas expansion programme of the bank.
Looking at the growing Indo - Trinidad & Tobago trade relation, the Bank has prioritized expansion plan into this twin-island nation. Also the presence of the Bank in the Continent at New York (USA), Nassau (Bahamas) & Georgetown (Guyana), would get synergised. There is large segment of ethnic Indians playing a very vital role in the Political, economic, social, cultural & educational areas in T & T. The Bank, would bring with it, its vast multi-specialist international experience and expertise in the areas of international trade, finance, project finance, loan syndications, retail finance, SME lending in T&T which is growing as providing financial hub of the Caribbean countries and would add value to the banking industry.
Bank of Baroda is excited and highly committed to provide a wide range of customer centric technology driven products and services in Trinidad & Tobago. Bank also looks forward to the benefit of synergy of our presence in India and across the
world.
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