Hyderabad: Bank of Baroda (BOB) today celebrated its 112th Foundation day at its regional office and all branches in Hyderabad.
General Manager and Hyderabad Zonal Head P. Sreenivas stated that the bank started its journey in year 1908 and was established by Maharaja Sayaji Rao Gaekwad III. Rich tributes were paid to him.
On the occasion, the bank initiated CST activities all pan India and under Hyderabad Zone branches in Telangana and Andhra Pradesh States. The bank participated in various activities like Tree Planting, Cleanliness drive, CSR activity at Orphanages, Old age homes and developed the society
Speaking to the media, Sreenivas said from April 1, 2019 the amalgamation of Bank of Baroda, Vijya Bank and Dena Bank came into effect to create India’s second largest public sector bank. Since the time, the in-principle approval to the amalgamation was granted by the boards of the three banks in end September 2018, the process has been completed in record time. It was first three way consolidation of banks in India, and Bank of Barods has now 9500 branches, 13400 ATMs, 85,000 employees serving 120 million. BOB has joint ventures for life insurance with India First Life Insurance and for asset management with Baroda Pioneer Asset Management. The bank owns 98.57% in the Nainital Bank. He said newly formed Hyderabad Zone controlling 490 branches in Telangana State and Andhra Pradesh has a total business of Rs 66,470 crore and a profit of Rs 1100 crores.
V.K. Upadhyay, Regional Head Hyderabad, K. Vijayaraju, Regional Head, Telangana and others participated.