Bank of Baroda

What Bank of Baroda does

Bank of Baroda is India's second-largest public sector sector bank, established in 1908 and majority-owned by the Government of India with approximately 64% sovereign holding. It operates a scheduled commercial banking franchise spanning 8,500+ domestic branches and a presence in over 15 countries, serving retail depositors, salaried government and PSU employees, MSME borrowers, large Indian corporates, and cross-border trade and remittance customers. As of Q1FY27, the bank reported global business of Rs 30.51 lakh crore, with global advances of Rs 14.17 lakh crore (up 17.42% YoY) and global deposits of Rs 16.34 lakh crore (up 13.81% YoY), and FY26 net profit of Rs 20,070 crore - a record high supported by GNPA of 1.89% and NNPA of 0.45%.

The bank's core product set spans CASA and term deposits, retail and corporate lending (including infrastructure finance), treasury operations, foreign exchange and trade finance, external commercial borrowings, and government-related disbursements such as salary, pension, and social-scheme flows. Its technical and operational backbone includes a domestic branch-and-ATM network plus digital channels, and recent strategic hires in HR Automation suggest ongoing investment in workflow digitisation; the bank also acts as a lead arranger for large-ticket deals such as the USD 500 million ECB for Power Grid Corporation. Underlying platform capabilities highlighted in the input include risk-weighted asset management at CRAR of 15.8%, liquidity coverage at LCR of 127%, and a treasury operation that supports infrastructure-bond issuance (Rs 100 billion in March 2026).

Bank of Baroda's revenue model is a classic spread-based banking franchise: it earns Net Interest Income from the differential between lending yields on advances and deposit costs on its CASA-heavy funding base, supplemented by fee and commission income from trade finance, foreign exchange, remittances, and corporate advisory. Distribution leverage comes from government-linked mandates (salary/pension accounts, tax collection, social-scheme disbursements), which deliver low-cost, sticky deposits; the CASA mix structurally compresses cost of funds relative to private peers. Cross-sell is being deliberately widened through the Mizuho Bank M&A financing partnership (June 2026), and capital is being raised through infrastructure-linked bond issuances to fund long-tenure lending, indicating a clear revenue diversification intent beyond core spread income.

Name

Bank of Baroda

Legal name

Bank of Baroda

Website

https://bankofbaroda.co.in

Company type

Public

Founded year

1907

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Bank of Baroda is India's second-largest public sector bank, majority-owned by the Government of India, operating 8,500+ domestic branches and international offices in 15+ countries to serve retail, corporate, and government-linked customers via deposit, lending, treasury, and trade finance products.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industry

Digital Retail Banking (Online & Mobile) (FSABAAAF)

Keywords

• Retail banking services
• Corporate lending
• NRI banking services
• Digital banking platform
• Fixed deposit products

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Net Interest Income: Interest income from lending operations including home loans, car loans, personal loans, education loans, MSME loans, and corporate credit minus interest paid on deposits. Represents the core revenue driver for the public sector bank, with advances growing 17.42% YoY to Rs 14.17 lakh crore in Q1FY27
2. Fee and Commission Income: Processing fees from loan disbursements, account maintenance charges, transaction fees on digital payments, distribution commissions from insurance products (through IndiaFirst Life Insurance subsidiary) and mutual fund products (through Baroda BNP Paribas Mutual Fund)
3. Foreign Exchange and Trade Services: Revenue from foreign exchange transactions, export/import financing, and cross-border remittance services for corporate and retail customers, supported by extensive international branch network in 15+ countries
4. Dividend Income from Subsidiaries: Dividend payouts from subsidiary companies including BOBCARD Limited (credit cards), BOB Capital Markets (investment banking), IndiaFirst Life Insurance (life insurance distribution), and Nainital Bank (regional banking)

Pricing tiers

Go-to-market motion2 records

Distribution channels8 records

Marketing channels8 records

Core offering

Bank of Baroda operates as a universal public sector bank offering deposits, retail and corporate lending, NRI banking, digital payments, insurance distribution, mutual funds, and trade finance through 8,500+ branches across India and 15+ international territories. The bank's core digital platform is bob World, a mobile application delivering 190+ banking services including account management, fund transfers, loan origination, UPI payments, and CBDC transactions.

Product overview

Bank of Baroda operates as a universal bank offering a comprehensive portfolio of digital banking platforms, lending products, deposit accounts, insurance, and investment services. The core digital banking ecosystem centers on bob World (mobile banking with 190+ services), bob World Business (SME/corporate digital platform), and bob e-Pay (UPI payment app). The bank's lending suite includes retail products (home loans, car loans, personal loans, education loans), MSME financing through schemes like Pradhan Mantri Mudra Yojana and Digital MSME Loans, and segment-specific offerings for defence personnel under the Baroda Yoddha product line. Deposit products span savings accounts, current accounts, fixed deposits (including the bob Golden Goal scheme and green deposits), and NRI banking products like FCNR(B) dollar deposits. The bank has expanded into digital payments with Programmable CBDC, WhatsApp Banking, and merchant payment solutions including POS and QR codes. Insurance and investment products are distributed through partnerships with IndiaFirst Life Insurance, National Insurance, Tata AIG, and Baroda BNP Paribas Mutual Fund. The MSME vertical offers specialized financing schemes including BECLGS 5.0, PM SVANidhi, and Baroda Healthcare Scheme.

Differentiator

Problem solved

Functional benefit

Brands

• bob World: Mobile banking application with 190+ services including balance enquiry, cardless cash withdrawal, fund transfers, and digital banking services
• bob World Business
• bob e-pay
• bob SDP
• Baroda Yoddha
• Baroda Gruh Loan
• bob Digital Rupee
• bob earth
• bob Rewardz

Products and services

• Baroda Home Loan Home loan product offered to aspiring homeowners with interest rates starting at 7.20% p.a., loan amounts up to Rs 20 crores in Mumbai metro, with flexible tenure and Baroda Green Home Loan variant for eco-friendly construction.
• Baroda Car Loan Auto loan financing for new vehicle purchases at 7.60% p.a. with up to 90% on-road price financing, maximum tenure of 7 years, and nil processing charges.
• Baroda Education Loan Education financing for students pursuing graduation, post-graduation, or professional courses in India and abroad, with rates starting at 6.85% p.a. under schemes like Baroda Gyan and Baroda Scholar.
• Baroda Personal Loan Personal financing for individual customers at 10.15% p.a. minimum with quick approval and minimal documentation, including Baroda Digital Personal Loan variant for streamlined processing.
• bob ADVANTAGE Saving Account Flexible savings account with easy operation, widely popular as a basic deposit product with free mobile and internet banking included.
• FCNR(B) Deposits Foreign Currency Non-Resident Bank deposits for NRI customers offering tax-exempt dollar fixed deposits with competitive returns up to 6.75% for USD deposits.
• bob Golden Goal Deposit Scheme Special term deposit scheme offering 6.75% interest rate for 555-day tenure on deposits below Rs 3 crore, with senior citizens receiving additional 0.50% premium.
• bob World Mobile Banking App Mobile banking application offering 190+ banking services including balance enquiry, fund transfers, cardless cash withdrawal, bill payments, loan applications, and credit card access.
• bob World Business Complete digital banking solution for retail merchants, traders, MSMEs, and corporate customers providing current accounts, trade finance, forex, and working capital facilities.
• bob e-Pay UPI Unified Payments Interface application enabling fund transfers from any bank account using Virtual Payment Address, including voice-enabled commands via IVR.
• bob World Digital Rupee (CBDC) Central Bank Digital Currency offering the digital Rupee as a blockchain-based alternative to physical currency, with programmable CBDC support for merchant loyalty and cashback programs.
• BOBCARD Credit Cards Credit card portfolio issued through BOBCARD Ltd subsidiary, available in Visa, Mastercard, and RuPay variants, managed at bobcards.com portal.
• Baroda Yoddha Defence Banking Products Specialized banking products for Indian Armed Forces personnel including exclusive home loans (up to 30-year tenure), auto loans, two-wheeler loans, and pensioner loans with lower interest rates.
• Pradhan Mantri Mudra Yojana (PMMY) Government-backed micro credit facility for small businesses and entrepreneurs under the PMMY scheme for non-farm income generating activities.
• IndiaFirst Life Insurance Products Life insurance products distributed through bancassurance partnership including term plans, pension plans, savings plans, and group insurance tailored for bank customers.
• Baroda BNP Paribas Mutual Fund Mutual fund products offered through joint venture with BNP Paribas Asset Management India, including equity funds, debt funds, and hybrid funds distributed through bank branches and digital platforms.
• BarodaINSTA SmartTrade One-point digital solution for foreign and inland trade transactions and FX remittances for corporate clients, enabling online transaction initiation with enhanced security.
• Baroda FASTag Electronic toll collection service enabling cashless payment at toll plazas across India for vehicle owners.
• Sovereign Gold Bonds Government securities denominated in grams of gold distributed through the bank, offering returns linked to gold prices with 2.5% annual interest.
• bob START-UP Current Account Current account designed for startups with scalable business models and high potential for employment generation.
• Digital Retail Loan End-to-end digital loan origination and disbursement system for personal financing needs without paperwork or branch visits, available through the bob World platform.

Quantifiable outcome

• Global business of ₹30.51 lakh crore with 15.46% YoY growth in Q1FY27
• +4 more outcomes

Named customers6 records

Segments8 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature5 records

Partnerships

Five partnerships are on record, tiered minor and core.

• State Bank of IndiaminorOthers · 16 July 2026Both banks competing for FCNR(B) deposits under RBI's special incentive scheme. SBI leads with $1.9 billion mobilized while Bank of Baroda raised $273 million as of mid-July 2026. Both participating in RBI's dollar deposit scheme alongside Canara Bank and Punjab National Bank.
• Mizuho BankcoreStrategic or Co-development Partner · 30 June 2026Strategic partnership announced in Mumbai on June 30, 2026 for M&A financing collaboration combining Mizuho's global network and structured finance expertise with Bank of Baroda's domestic franchise and corporate relationships. Covers joint origination, structuring, co-underwriting, syndication, M&A advisory, risk distribution, forex hedging, and escrow services. Targets Indian companies pursuing mergers, acquisitions, and strategic investments amid sector consolidation driven by infrastructure growth, digital transformation, and energy transition initiatives. Follows Mizuho's acquisition of 60% stake in Avendus Capital in December 2025.
• IndiaFirst Life Insurance CompanycoreGTM or Marketing PartnerBancassurance partnership for distribution of life insurance products through Bank of Baroda's branch network and digital channels. IndiaFirst Life offers term plans, savings plans, pension plans, and group insurance tailored for bank customers including home loan borrowers.
• Baroda BNP Paribas Mutual FundcoreGTM or Marketing PartnerJoint venture mutual fund distributing investment products including equity funds, debt funds, and hybrid funds through Bank of Baroda branches and digital platforms. Provides fee income stream through distribution commissions.
• BOBCARD LimitedcoreGTM or Marketing PartnerWholly-owned subsidiary issuing Bank of Baroda credit cards including Visa, Mastercard, and RuPay variants. Manages credit card portfolio, merchant relationships, and card-based digital payments.

Scale indicators17 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• State Bank of India: India's largest public sector bank with a comparable full-service retail, corporate, and NRI offering, government ownership, and digital platform (YONO). BoB and SBI directly compete for PSU retail deposits, FCNR(B) mobilisation, and government business.
• Punjab National Bank: Large Indian PSU bank with similar retail, MSME, and corporate banking products, government-majority ownership, and a national branch network. PNB is explicitly named alongside BoB as a peer in FCNR(B) mobilisation and infrastructure bond issuance.
• Canara Bank: Indian PSU commercial bank with overlapping retail, corporate, and digital banking offerings and comparable government ownership structure. Both banks compete in the same PSU retail, MSME, and FCNR(B) deposit mobilisation schemes.
• Union Bank of India: Indian PSU bank with similar universal banking franchise, government-majority ownership, and digital banking platform. Comparable in customer segments, regulatory positioning, and product portfolio to BoB.
• Bank of India: Indian PSU bank with overlapping retail, corporate, and international NRI services, government-majority ownership, and similar regulatory positioning. Directly comparable on scale, deposit franchise, and target customer segments.
• Central Bank of India: Indian PSU bank explicitly cited as a peer with comparable operating metrics and similar trading discount to book value (0.7–0.8x P/BV). Competes with BoB in PSB consolidation context and similar government-owned banking franchise.
• Indian Bank: Indian PSU commercial bank with comparable retail, MSME, and corporate banking services and government-majority ownership. Directly competitive in the same PSU peer set on deposits, advances, and digital banking.

Broad incumbents

• HDFC Bank: India's largest private sector bank offering retail, corporate, and digital banking. While operating across the same customer base, HDFC operates with materially different governance, higher valuation multiples, and a more urban/corporate tilt than BoB's PSU model.
• ICICI Bank: Major Indian private bank with broad retail and corporate banking franchise and leading digital platform (iMobile). Operates in the same overall banking industry as BoB but is differentiated by private ownership, higher profitability, and stronger urban/digital positioning.
• Axis Bank: Large Indian private sector bank with comparable universal banking services including retail, MSME, corporate, and NRI offerings. Indirectly competitive with BoB but with private governance and higher margin profile.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/bankofbaroda
• Facebookfacebook.com/bank-of-baroda-960645847355292
• LinkedInlinkedin.com/company/bank-of-baroda
• Instagraminstagram.com/bankofbaroda

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries11 records

Funding overview

Funding rounds7 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments12 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bank of Baroda