State-owned Bank of Baroda (BoB) surpassed IndusInd Bank in market capitalisation (market-cap) ranking, after the sharp correction in the private sector lender's stock price.
At 10:34 am, BoB was up 2 per cent at Rs 62.90 with market-cap of Rs 29,063 crore, becoming the eighth largest bank by market cap. In comparison, IndusInd Bank, down 5.7 per cent to Rs 419, had market-cap of Rs 29,024 crore, BSE data shows.
Government-owned Bank of Baroda has reported a Rs 5,250-crore divergence in the calculation of bad loans for the 2018-19 financial year.
The Reserve Bank of India's (RBI's) assessment of its gross non-performing assets (NPAs) for the year is Rs 75,174 crore. Against this, the bank had reported GNPAs of Rs 69,924 crore, it told the BSE exchange. All figures are for the recently amalgamated entity, wherein Vijaya Bank and Dena Bank were merged with BoB.
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.
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).
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.
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.
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.
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.
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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