History It all started with a visionary Maharaja's uncanny foresight into the future of trade and enterprising in his country. On 20th July 1908, under the Companies Act of 1897, and with a paid up capital of Rs 10 Lakhs started the legend that has now translated into a strong, trustworthy financial body, THE BANK OF BARODA.
It has been a wisely orchestrated growth, involving corporate wisdom, social pride and the vision of helping others grow, and growing itself in turn. The founder, Maharaja Sayajirao Gaekwad, with his insight into the future, saw "a bank of this nature will prove a beneficial agency for lending, transmission, and deposit of money and will be a powerful factor in the development of art, industries and commerce of the State and adjoining territories."
No history is complete without mention of its heroes, mostly ordinary people, who turn in extra-ordinary performances and contribute to building an institution. Over the years, there have been thousands of such people. The Bank salutes these "unknown soldiers" who passionately helped to create the legend of Bank of Baroda.
There were also the leaders, both corporate and royal, who provided the vision and guided the Bank through trail blazing years, and departing, left behind footprints on the sands of time. This Roll of Honor will be incomplete without mention of men, of the stature of Maharaja Sayajirao Gaekwad, Sampatrao Gaekwad, Ralph Whitenack, Vithaldas Thakersey, Tulsidas Kilachand and NM Chokshi.
Our Logo Our new logo is a unique representation of a universal symbol. It comprises dual ‘B’ letterforms that hold the rays of the rising sun. We call this the Baroda Sun.The sun is an excellent representation of what our bank stands for. It is the single most powerful source of light and energy – its far reaching rays dispel darkness to illuminate everything they touch. At Bank of Baroda, we seek to be the sources that will help all our stakeholders realize their goals.
To our customers, we seek to be a one-stop, reliable partner who will help them address different financial needs. To our employees, we offer rewarding careers and to our investors and business partners, maximum return on their investment. The single-colour, compelling vermillion palette has been carefully chosen, for its distinctiveness as it stands for hope and energy.
We also recognize that our bank is characterized by diversity. Our network of branches spans geographical and cultural boundaries and rural-urban divides. Our customers come from a wide spectrum of industries and backgrounds. The Baroda Sun is a fitting face for our brand because it is a universal symbol of dynamism and optimism – it is meaningful for our many audiences and easily decoded by all.
Our new corporate brand identity is much more than a cosmetic change. It is a signal that we recognize and are prepared for new business paradigms in a globalize world. At the same time, we will always stay in touch with our heritage and enduring relationships on which our bank is founded. By adopting a symbol as simple and powerful as the Baroda Sun, we hope to communicate both.
“To be a top ranking National Bank of International Standards committed to augmenting stake holders' value through concern, care and competence.”
BANK’S VISION 2010 The Bank aspires to regain the leadership spot in the public sector banking space by 2009-10, deploying the most modern technology and pursuing global best practices for affording world-class banking experience and best value to its customers. Towards this, the Bank seeks to: Double its global business size (deposits + advances) within the next 2-3years (over 2005) and take it forward to Rs.3,00, 000 crore by 2010. Acquire at least 2 million customers every year.
Double retail assets. Double fee income. Bring at least 300 to 400 of the top 500 corporate in the Bank’s loan book. Transform the top 500 branches into best-of-the-breed sale and service centers, through improved ambience, processes, people and technology.
CORPORATE MOTTO “LEVERAGING TECHNOLOGY FOR SUPERIOR CUSTOMER EXPERIENCE”
StrategiesOf the Bank INITIATIVES PLANNED FOR 2008-09: CBS rollout to continue to reach 1,919 branches in India by March 2009. CBS rollout to cover the remaining overseas territories like US, Belgium, Kenya. Value added services like Money Transfer, Mobile Payments, Utility Bill Payments etc. over ATMs. Operationalisation of Internet Payment Gateway. E-trading Platform. Online Home Loan Application System.
Corporate Cash Management facility for receivables management. Setting up of additional SME Loan Factories. Opening 3 more Gen-N ext branches. Extension of Bank’s Depository Services to 500 CBS branches - from the present 272. Implementation of Cheque Truncation Project in the NCR Region. Setting up of Call Centre. Operationalisation of City Back Offices (CBOs) and Regional Back Offices (RBOs) and shifting of Back Office activities from CBS branches to CBOs/RBOs.
Suggestions The company should provide the “Zero Balance Account” to their customer. They can also enter into the business of LIC and general insurance. They should have to establish ATM at each and every branch and as well at the highways.
They should have to give the opportunity to the local person to recruit in the bank. They should have to give the opportunity to the local person to recruit in the bank. They should have to analyze the business activity and progress at every month and according to that they have to impart the training to the employees.
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