As a part of its business strategy, Bank of Baroda is
entering South East Asia with its first office at Kuala
Lumpur, Malaysia. Bank of Baroda will be the only Indian
Bank to have its office in Malaysia from 10th August
2004. R.L.Narayan, high commissioner of India to Malaysia,
will be inaugurating the representative office.
representative office will be catering to the information
and liaison requirements of Malaysian and Indian businesses
for furthering the trade and synergies.
is playing an important role in South East Asia economic
cooperation, integration and development through ASEAN.
Increasing economic cooperation and trade resulted in
growth of more than 30 per cent in bilateral trade between
India and Malaysia in 2003-04, with trade volume crossing
US$ 2.5 billion.
Asian Strategy and Leadership Institute (ASLI) is organizing
the 2nd Asian Economic Summit at Kuala Lumpur from 9-11
August 2004. The Summit will focus on reconsolidating
and regenerating investments into the region to enable
Asia to further gain its competitive edge with the theme
"Asia''s Economic Future". Confederation of
Indian Industry (CII) is coordinating the "India
Presence" at the Summit. Bank of Baroda has joined
CII in this Summit and the Bank is sponsoring a Special
Session on "India-ASEAN Partnership".
of Baroda is awaiting approval from host country regulatory
authorities for opening representative office in Bangkok,
Thailand. Bank has received approvals from Reserve Bank
of India for opening Offshore Banking Unit in Singapore,
and a branch in Houston, Texas in USA. Necessary steps
have been initiated to open these offices as early as
possible, after obtaining necessary statutory regulatory
approvals from the concerned authorities in these countries.
Bank of Baroda will also be opening a fully owned subsidiary
in Tanzania shortly.
of Baroda has 55 overseas offices spread over 17 countries
comprising 38 overseas branches including 3 Offshore
one mobile agency, one Representative Office and 16
branches of 6 overseas subsidiaries. Bank also has one
joint venture in Zambia, which has 9 branches.