Bank of Baroda to unveil online banking services

DUBAI — Bank of Baroda, India’s international bank, will launch its online Internet banking services today, enabling online instant transactions. The service will be inaugurated by M K Lokesh, Indian Ambassador to the UAE, in the presence of Sanjay Verma, Consul General of India.

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Published: Thu 29 Jul 2010, 11:18 PM

Last updated: Mon 6 Apr 2015, 10:39 AM

“We foresee a 50 per cent growth in business during this financial year which would mean that we would in fact be pumping approximately Dh5 billion into the UAE economy,” said Ashok K. Gupta, chief executive, GCC operations, Bank of Baroda.

The third-largest bank in India has posted an all-time business of Rs416,000 crore ($93 billion) as on March 31, 2010. Bank of Baroda, the only Indian bank in the UAE offering an entire range of banking services, has branches in Abu Dhabi, Al Ain, Bur Dubai, Deira, Sharjah and Ras Al Khaimah. It also has four customer service centres in Jebel Ali, Mussaffa, Al Qusais and at RAKIA, with a fifth one scheduled to be opened shortly at Shaikh Zayed Road, and another five in the pipeline.

The bank’s customer base jumped from 60,000 to 170,000 in the last three years. The bank offers services for small and medium enterprises and large corporates. The bank’s specialised outfits include retail banking shoppe, SME loan factory, syndication centre, corporate banking unit, centralised trade finance and state-of0-the-art treasury operations, among others. For non-resident Indians (NRIs), the bank has a special India Desk which exclusively caters to all their banking requirements.

Bank of Baroda, which is working with the objective of becoming the “most-preferred bank” in the UAE, is expected to launch a mobile customer service centre soon.

The bank’s ATM network has now reached 40. In addition to the UAE, Bank of Baroda is also present in Oman and Bahrain, and is also planning to start operations in Kuwait, Qatar and Saudi Arabia, which will make it the only bank offering services in all GCC

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