14th December 1953 was a historic day for India’s International Bank, Bank of Baroda.
Bank of Baroda, India started its glorious journey of its Overseas Operations on this day by opening a branch at Makadara Road, Mombasa in Kenya.
Later, on 03rd October 1959, another branch was opened at Digo Road in Mombasa. Subsequently, in 2002 Makadara Branch was merged with Digo Road Branch, Mombasa.
On 21st January 1992 the subsidiary, Bank of Baroda (Kenya) Ltd was incorporated with 86.70% shareholding of the Bank of Baroda, India and 43 local shareholders constitute the remaining 13.3%.
As on 31st December 2017, Bank of Baroda (Kenya) Ltd. has an authorized Capital of Kenya Shillings (Kshs.) 16,909 million with subscribed and paid up capitals of Kshs. 900 million respectively. Bank of Baroda, India is contributing a capital of Kshs. 858 million.
Bank is offering all the Banking services to its customers, enabled with transaction based banking- Internet Banking, RTGS (Domestic) & ready to offer cross border RTGS among East African Countries through East African Payment System (EAPS), Mpassbook, Debit Card, SMS banking, Mobile banking etc.
Achievement during the last 67 years
During the last 67 years, bank has been able to place itself as a dominant player in the industry with a good public image and customer confidence.
Currently, it enjoys a market share of 2.90% with an overall ranking of 14 among 43 Banks. Some of the facts of the Bank vis-a-vis Banking Industry in Kenya are provided in the table below;
Bank was able to cross the Kshs. 117 billion marks of business level in its 67th year with a total deposits at Kshs. 73 billion and advances at Kshs. 43.94 billion.
At present, the Bank is operating through 13 branches across the country at strategically located places viz; Nairobi (5 Branches), Mombasa, Kisumu, Eldoret, Nakuru, Kakamega,Thika, Nyali & Meru.
“Give back to society”.
Bank is not only confined to the traditional way of doing Banking, but is also fostering to play active role in discharging the Corporate Social Responsibilities (CSR) in an effective manner with the philosophy of “give back to society”.
Bank has ensured over the years to serve the social cause by contributing its share towards many philanthropic activities to the advantage of the deprived section of people. Donations to the Kenya Red Cross Society for serving the poorer in indirect way, donations of Wheel chairs through Kenya Womens Society, donations to Oloose Girls Secondary School for purchase of books, computers, water tanks etc, 60 trees were planted in Karura Forest, Nairobi to save the Ecology on the eve of Bank’s 60th anniversary celebration in Kenya as direct participation are few among the initiatives taken by the Bank from time to time.
Recently Bank Distributed Wall clocks to different Places and charitable institutions, The Bank is still committed to increase the participation in such activities in the days to come.