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Mission To be the top ranking National Bank of International Standard committed to augmenting stakeholders value through concern, care and competence
History
The bank was founded by Maharaja Sayajirao Gaekwad III On 19th of July 1969, Bank of Baroda was nationalized by the Government of India along with 13 other commercial Bank. During the years of 1908 to 2007 Bank of Barodas growth owes to the excellence in rendering financial products and services to the national and international population. Countries beginning from America to Zambia, in the alphabetical order have been enjoying the services of Bank of Baroda as of today
Uninterrupted Record in Profit-making and Dividend Payment Pioneer in many Customer-Centric Initiatives First PSB to receive Corporate Governance Rating (CGR-2) A well-accepted & recognised Brand in Indian banking industry
Modern & Contemporary Personality Strong Domestic Presence through 3, 364 Branches Provides Financial Services to over 39 mln Customers Globally
Regional Break-up of Domestic Branches as on 31st Mar, 2011 Metro 730 Urban 631 SemiUrban 832 Rural 1,171
Strategies adopted
As on 11th Apr, 2011, the Bank completed 100% CBS implementation for its overseas business. Bank has developed IT facilities for online/offline account opening through Business Correspondent under Financial Inclusion. Banks Retail & Corporate Customers enjoy several facilities under internet banking such as fund transfers to self & third party; online payment of bills & taxes, rail-ticket booking, temple donations, online subscription to IPOs/FPOs thru ASBA & institutional fee payment. Bank also offers phone banking, online money transfer services, SMS alerts, Cash Mgmt services, online institutional trading, etc. Mobile ATMs have been introduced in Ahmedabad, Pune, Lucknow & New Delhi. Bank has implemented Multiple Accounts being linked to a single Debit Card (verified by Visa, CVV2) and also a Mobile Number registration thru ATMs in CBS for SMS alert.
SWOT Analysis Strength One of the biggest names in public sector banking No. of services and products offered by the bank CBS implementation in its branches International presence adds to the credibility
Weakness Lesser branches across the country when compared with SBI and PNB Due to focus on international branches, local focus sometimes gets diluted Low marketing strategies
SWOT Analysis Opportunities International branches give scope to expand in other economies Expansion in the rural areas to include the unbanked and under banked Advanced technology cost cutting through E-Banking
Threats New banking licenses by RBI Retirement of Experience staff Customer Dissatisfaction Competitors