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Bank of Baroda MF arm to merge with BNP Paribas AMC
Posted on 12th October 2019
Baroda Asset Management India, a wholly-owned subsidiary of Bank of Baroda, on Friday announced its merger with BNP Paribas Asset Management India. Bank of Baroda and BNP Paribas Asset Management Asia have entered into binding agreements for the merger.

The transaction also includes merger of BNP Paribas Trustee India with Baroda Trustee India.

Bank of Baroda boosts lending to MSMEs, partners with NBFC to offer small ticket loans
Posted on 3rd October 2019
Credit and Finance for MSMEs: Public sector lender Bank of Baroda (BOB) has partnered with NBFC Paisalo Digital to lend co-originate loans to MSMEs and agribusinesses. Prospective customers will be reached out by the bank and Paisalo followed by the due diligence to offer loans between Rs 10,000 and Rs 40,000. The agreement will focus on empowering small businesses particularly in the state of Uttar Pradesh (UP).

Bharat Gas gets five-year loan from Bank of Baroda for ₹3,100 crore
Posted on 23rd September 2019
Mumbai: Bharat Gas Resources Ltd (BGR) a wholly-owned subsidiary of Bharat Petroleum Corporation Ltd (BPCL), has signed a five-year loan agreement with Bank of Baroda for ₹3100 crore, according to two officials aware of the deal.

The company will use the loan to fund expansion of its city gas distribution business. BGRL has a board approved borrowing limit of ₹4000 crore.

BoB committee to meet next week to consider raising funds
Posted on 13th September 2019
New Delhi: Public sector lender Bank of Baroda on Friday said its capital raising committee will meet next week to consider raising funds through bonds.

"The capital raising committee (CRC) of whole time directors of the bank is scheduled to be held on September 18 to consider raising of debt capital for the bank through issuance of Basel III compliant tier II bonds /additional tier 1 bonds," the bank said in a regulatory filing.

Bank of Baroda to sell Dena Bank head office for at least ₹530 crore
Posted on 12th September 2019
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.

Bank of Baroda plans to raise capital up to Rs 3,000 cr via tier-II bonds
Posted on 9th September 2019
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.

Bank of Baroda to share its merger experience with 10 public sector banks
Posted on 4th September 2019
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.”

Bank of Baroda to co-lend Rs 1,000 crore with NBFCs this quarter
Posted on 27th August 2019
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.

BoB, PNB, other lenders hold 2-day meeting to generate ideas for growth
Posted on 19th August 2019
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.

Bank of Baroda net profit rises 28% in Q1
Posted on 26th July 2019
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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