Bank of Baroda to sell Dena Bank head office for at least ₹530 crore
Posted on 12th September 2019 |
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MUMBAI : Public sector lender Bank of Baroda (BoB) has decided to sell the head office of erstwhile Dena Bank in Bandra Kurla Complex for at least ₹530 crore, according to a document seeking bids. The e-auction will be conducted on 18 October. This follows the merger of Bank of Baroda with Dena Bank and Vijaya Bank in April. |
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Bank of Baroda plans to raise capital up to Rs 3,000 cr via tier-II bonds
Posted on 9th September 2019 |
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Public sector lender Bank of Baroda (BoB) plans to raise capital up to Rs 3,000 crore through tier-II bonds for meeting capital adequacy norms for the merged entity (integration of Vijaya and Dena Bank with BoB). Rating agency India Ratings has assigned “AAA” stable rating to proposed bond offering by the PSB.
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Bank of Baroda to share its merger experience with 10 public sector banks
Posted on 4th September 2019 |
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The brass of 10 public sector banks (PSBs) will meet in Mumbai on Wednesday to gain insights from Bank of Baroda (BoB) in managing its merger with Dena Bank and Vijaya Bank. The four anchor banks and six merging entities will also discuss initial merger plans. A senior executive of a South India-based PSB said, “We are meeting in the financial capital to understand from BoB how it went about the integration process for Vijaya Bank and Dena Bank.” |
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Bank of Baroda to co-lend Rs 1,000 crore with NBFCs this quarter
Posted on 27th August 2019 |
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The country’s second largest state-owned lender, Bank of Baroda, on Monday announced that it had plans to lend up to Rs 1,000 crore in tandem with 16 non-banking financial companies (NBFCs) and microfinance institutions (MFIs) in the current quarter. With this step, the bank will get new accounts, to whom they will be cross-selling other products as well. At the same time, NBFCs will get an opportunity to grow their business – asset under management – without facing any capital constraints or funding related challenges. |
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BoB, PNB, other lenders hold 2-day meeting to generate ideas for growth
Posted on 19th August 2019 |
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Public sector lenders, including PNB, BoB and Corporation Bank, have organised a two-day consultation process at branch level, seeking suggestions to make the sector future ready and be a catalyst in economic growth. The consultations were held over a period of two days from August 17-18 under the direction of Department of Financial Services, Ministry of Finance. |
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Bank of Baroda net profit rises 28% in Q1
Posted on 26th July 2019 |
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Bank of Baroda (BoB) on Thursday reported a 28% year-on-year rise in its consolidated net profit at Rs 826.13 crore for the June quarter of 2019-20 financial year. This is the lender’s first earnings announcement after it merged Dena Bank and Vijaya Bank with itself. In the year-ago period, Bank of Baroda’s consolidated net profit was at Rs 645.71 crore. |
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Bank of Baroda cut savings rate to 3.25%
Posted on 25th July 2019 |
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India’s second largest public sector lender, Bank of Baroda, has cut its savings deposit interest rates by 25 basis points (bps) to 3.25% per annum, which is the lowest among its peers. The rate has been revised on saving accounts with balance below Rs 50 lakh and are applicable with effect from July 20. The bank last week also cut its term deposit rates across tenures; for 1-year term deposit, interest rate was cut 25 bps to 6.45% per annum. |
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Bank of Baroda revises fixed deposit (FD) rates. Check out the latest rates here
Posted on 24th July 2019 |
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Public sector lender, Bank of Baroda (BoB) revised its interest rates on fixed deposits (FDs) effective 20 July 2019. Bank of Baroda offers interest rates ranging from 4.50% p.a. to 6.60% p.a. for FD with tenures ranging from seven days to 10 years. The bank has reduced the rate of interest across all maturities. FD rates of Bank of Baroda now range from 5.25% p.a. to 6.25% p.a. on deposits with a tenure of 7 days to less than one year. |
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Bank of Baroda to foray into e-commerce business
Posted on 11th July 2019 |
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New Delhi: Bank of Baroda plans to launch an online marketplace to its customers offering banking services and farm-related products. The state-owned lender has invited bids seeking a partner to supply 'digital commerce platform' to provide assistance to merchants on catalog management, purchase management fulfilment, pricing, promotion and other similar services. |
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Bank of Baroda down 1% post reports it has bought DHFL loans worth Rs 3k cr
Posted on 1st July 2019 |
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Shares of Bank of Baroda (BoB) slipped 2 per cent to Rs 120 apiece in the early morning trade on Monday after reports surfaced the state-run lender has entered into a transaction with Dewan Housing Finance Corporation(DHFL) to buy loans worth Rs 3,000 crore against its exposure to the non-bank lender. |
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