BOB FULL FORM

Full Form of BOB : Bank of Baroda

What is the full form of BOB?

No:1. BOB stands for Bank of Baroda.
No:2. It is an international banking and financial services company based in India.
No:3. It is headquartered at Vadodara in Gujarat, India.
No:4. Its corporate office is located in Mumbai.
No:5. At present, it has a network of 3454 branches spread throughout the country and 86 branches overseas.
No:6. At present, as of June 2018, Shri P.S. Jayakumar is the Managing Director and CEO of Bank of Baroda.

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Major Services

No:1. Retail Banking: In includes loans, deposits, debit card, credit card, demat services etc.
No:2. Rural and agri banking: It includes agricultural loans, locker services, deposits etc., for rural customers and sectors related to agriculture.
No:3. Corporate banking: It includes project finance, foreign currency loans, working capital finance, and treasury products for the corporate sector.
No:4. SME banking: It includes products and services for SME sector.
No:5. Wealth Management: It provides wealth management services to companies in the field of insurance and mutual funds.

Brief History

No:1. The Maharaja of Baroda, Maharaja Sayajirao Gaekwad III founded the Bank of Baroda on 20 July 1908.
No:2. In 1953, it established its branches in Mombasa and Kampala.
No:3. In 1957, it opened a branch in London.
No:4. In 1958, it acquired the Hind Bank which was the first domestic acquisition of Bank of Baroda.
No:5. 1n 1961, the New Citizen Bank of India merged with BOB.
No:6. In 1963, it acquired Surat Banking Corporation at Surat in Gujarat.
No:7. In 1965, it opened a branch in Guyana.
No:8. On 19 July 1969, it was nationalized by Govt. of India and recognized as a profit-making public sector undertaking (PSU).
No:9. In 1972, it acquired the operations of Bank of India based in Uganda and after two years opened branches in Dubai and Abu Dhabi.
No:10. In 1980, it opened a representative office in Sydney, Australia and a branch in Bahrain.
No:11. In 1996, it entered the capital market with an Initial Public Offering.
No:12. In 2006, it established an Offshore Banking Unit (OBU) in Singapore.
No:13. In 2011, it opened an Electronic Banking Service Unit (EBSU) at Hamriya Free Zone, Sharjah (UAE).
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