Bank of Baroda (BoB) is an Indian International banking and financial services company founded 110 years ago headquartered in Vadodara (earlier known as Baroda) in Gujarat, India.
Based on 2017 data, it is ranked 1145 on Forbes Global 2000 list and India’s 2nd biggest bank by assets.
The government of India announced the merger of this Bank of Baroda, Vijaya Bank and Dena Bank on September 17, 2018 to create the country’s third largest lender.
The envisaged amalgamation will be the first-ever three-way consolidation of banks in the country, with a combined business of Rs 14.82 lakh crore, making it the third largest bank after State Bank of India (SBI) and ICICI Bank.
Union Cabinet has approved this tripartite mergers in the public banking sector on January 2, 2019. The merger of Vijaya Bank and Dena Bank into Bank of Baroda is proposed to be effective from April 1, 2019.