News

BoB gets nod for full-fledged branch in Hong Kong (BL 29.08.06) Bank of Baroda has received licence from the Hong Kong Monetary Authority for conversion of its existing operations into full-fledged banking operations. As a branch, the new entity is permitted to accept retail deposits and grant loans to retail and small and medium enterprises segments, besides foreign currency term loans, syndicated loans, foreign currency convertible bonds and trade finance to corporates. Bank of Baroda now has a presence across 20 countries. The bank will roll out its Singapore operations through an offshore banking unit in Singapore in September 2006.