Bank of baroda

BANK OF BARODA
(4)
The corresponding new Bank may transact any business or perform any function entrusted to it under Clause (I) by
itself or through any agent approved by the Reserve Bank.
Changes in Memorandum of Association
We do not have any articles or memorandum of association as we are a “corresponding new bank” under the provisions
of the Bank Acquisition Act.
Key Milestones
Date
Event
1908
Establishment of the Bank
1910
Opened our first branch in the city of Ahmedabad
1919
Opened our first branch in Mumbai City
1953
First international branch opened at Mombasa, Kenya
1958
The Hind Bank merged with us
1962
The New Citizen Bank Limited merged with us
1963
We acquired the Surat Banking Corporation
1964
The Umargaon Peoples’ Bank & Tamilnadu Central Bank merged with us
1984
Bank of Baroda launched its credit card operations
1988
The Traders Bank Limited merged with us
1995
First bond issue of Rs. 3,000 million
1996
Our first public issue of Rs. 8,500 million
1999
Commenced operations as a depository; and
Bareilly Corporation Bank merged
2000
Appointed Arthur Andersen India Private Limited as risk management consultant for setting up a
Comprehensive Risk Management Architecture for the Bank
2001
Establishment of a separate Risk Management Department, headed by a General Manager and
specialised integrated treasury branch
2002
The Benares State Bank Limited merged with us
2004
The South Gujarat Local Area Bank merged with us.
Signed MOU with National Insurance Company Limited June 1, 2004 for selling its non life
insurance products under corporate agency arrangement.
2005
Bank’s new logo launched
Launched the IT Enabled Business Transformation Program and signed the contract with HP
in this regard
Multicity cheque facility launched
Upgradation to the Bank’s IT framework to ensure consonance to world-class standards
rolled out

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