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BANK
OF BARODA, a prominent public sector Bank from
India, has become today a household name with its branches
spread over virtually the entire nook corner of the country
and a global presence covering 16 countries across the globe.
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Founded
in 1908, in Mandvi, Baroda, (India) on a prominent western
province of pre-independent India, it is now second largest
Banking institute of the country with 96 years track record
of continued profits, since its inception.
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Bank enjoys the confidence of more than 20
Mn customers through more than 2,675 branches across the length
& breadth of India and 38 branches in various countries
such as Uganda, Kenya, Botswana, South Africa, U.A.E, U.K,
Brussels, U.S.A, Hong Kong & British Guyana.
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Bank
has been making profits since inception, and has crossed the
milestone of Rs.5 billions in March 2002.
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Out of 2641 branches 1515 branches are computerised, covering
77 % Bank’s businesses as on March 2002.
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| Intra-city
connectivity among 300 branches in important cities in India. |
| Bank
has installed 300 ATMs at important business centres all over
the country. |
| 77
branches have been provided with SWIFT facility for instant
funds transfer. |
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Bank’s
overseas operations with 38 branches, 6 subsidiaries and one
joint venture, are contributing more than 25% of the global
profits.
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Bank has presence in all time zones. |
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A
few proposals for opening of branches/extension counters and
a joint venture in Tanzania, China & Malaysia are in pipeline.
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Bank
of Baroda has moved in the direction of securing ISO certification
as per its latest standard ISO 9001:2000,for selected branches.
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| PERFORMANCE
HIGHLIGHTS (AS ON 31.03.2002) |
| DEPOSIT
: |
US
$ 12.84 bn |
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ADVANCES : |
US
$ 7.02 bn |
| NET
PROFIT: |
US
$ 11.37 MILLIONS |
| TOTAL
STAFF: |
38899 |
| TOTAL
INDIAN BRANCHES: |
2641 |
| TOTAL
FOREIGN BRANCHES: |
38
IN 16 COUNTRIES.
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| BANK
OF BARODA (KENYA) LTD |
| Bank
of Baroda opened its first overseas branch at Mombassa, Kenya
in 1953. |
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At present, Bank has presence in 16 countries
all over the world including 6 countries in the African Continent.
Bank is operating in Africa through branches (Mauritius, Seychelles
and South Africa), subsidiaries (Kenya and Uganda), and a
joint venture in Zambia.
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Incorporated
as subsidiary in 1992, with shareholding of parent Bank, BANK
OF BARODA, INDIA 86.7 %
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Presently
6 fully computerised branches in KENYA at 4 centres Nairobi,
Kisumu, Mombassa & Thika.
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| Good
Public Image as a Bank with strong Indian roots & steady
performance. |
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Introduced
recurring deposit & Time deposit schemes of longer maturities
up to one year-Both first such products among Banks in Kenya.
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7
Days banking at new branch at Sarit Centre, Westlands, Nairobi.
First time in banking industry in Kenya with mobile Banking,
web camera for on spot photos of customers for opening of
the account, touch screen for information & statement
of accounts through E-mail.
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| HIGHLIGHTS
OF MAJOR PERFORMANCE PARAMETERS |
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The
total deposits showed a growth of 17.5% as against the negative
growth registered by the banking industry as a whole.
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The
net advances (after provisions) increased by 9.10% as against
negative growth shown last year.
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The
gross non-performing advances were brought down by 10% and
as proportion of gross advances; the gross NPAs were reduced
to 29.8% as compared to 35.2% at the end of the previous year.
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The
Net NPA of the Bank has been decreased to 16.30% as on 31.12.01.
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The
Operating Profit (before provisions and tax) at KShs. 77.93
m reflected an increase over the previous year’s level of
KShs. 62.57 m by 24.54%.
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The
net profit (after tax) at KShs. 32.74 m increased by 17.1%
over last year despite economic recession and uncertainties
connected to the elections.
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Capital
adequacy ratio was high and net worth has been strengthened.
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FUTURE
PLANS 2003
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The
possibilities of opening new branches in potential areas
like Eldoret and Nakuru will be explored.
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Opening
of new Industrial area, Nairobi branch in October 2002. |
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The
shifting of the branch premises of Nairobi Main branch
to a more suitable area will be undertaken.
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The
Bank shall work towards introducing new products and schemes
in conformity with the customer needs and the market demands. |
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Connectivity
shall be established in phases between all the branches
of Nairobi as also between Nairobi Main branch and the
Mombassa and Kisumu branches. |
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There
shall be continuing efforts to right size the staffing
pattern vis-à-vis the present ageing pattern, skill updation,
employee productivity etc. |
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Strategic
measures shall be implemented to strengthen and highlight
the Bank’s image and visibility as a Safe, Solid and Secure
Bank. |
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Installation
of SWIFT by March 2003 for instant funds transfer. |
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