Bank of Baroda

Bank of Baroda Recommends Dividend Of Rs 21.50 per share The board of Bank of Baroda in its meeting held on 13 May 2013 has recommended dividend of Rs 21.50 per equity share (equity shares of Rs 10 each fully paid-up) for the financial year 2012-13.

Bank of Baroda Director Resigns With effect from 05 May 2013 Ajay Mathur, director of Bank of Baroda has resigned from the board of the bank with effect from 05 May 2013.

Bank of Baroda - Board to consider Dividend On 13 May 2013 The board meeting of Bank of Baroda will be held on 13 May 2013, to consider the audited financial results and recommend dividend for the quarter / financial year ended 31 March 2013.

Bank of Baroda`s shareholders approve to issue equity shares to Govt. of India The shareholders of Bank of Baroda at the extraordinary general meeting held on 11 March 2013 have approved the preferential allotment of 1,01,32,920 equity shares of face value of Rs 10 each at an issue price of Rs 838.85 per share to the Government of India.

Bank of Baroda to issue equity shares on preferential basis To convene EGM Thee board of Bank of Baroda in its meeting on 02 February 2013 has approved the issue of equity shares of face value of Rs 10 each, for cash at a premium to be determined in accordance with SEBI (ICDR) Regulations aggregating upto Rs 860 crore, on preferential basis to Government of India. Further, the board has decided to convene extraordinary general meeting on 11 March 2013.

Bank of Baroda cuts base rate & BPLR With effect from 09 February 2013 Bank of Baroda has announced that in response to the RBI`s move to reduce the key policy (Repo) rate by 25 bps and the cash reserve ratio by 25 bps in its third quarterly review of monetary policy unveiled on 29 January 2013 the bank has realigned its deposit rates in the band of 15 to 20 bps in the shorter maturities and reduced its base rate and BPLR by 25 bps each with effect from 09 February 2013. With this, the bank`s base rate will be at 10.25% and BPLR at 14.50% with effect from 09 February 2013.

Bank of Baroda to hold board meeting On 04 February 2013 The board meeting of Bank of Baroda will be held on 04 February 2013 to consider the issue of equity shares to Government of India (GoI) on preferential basis, as per SEBI ICDR Regulations.

Central Government appoints S S Mundra as chairman & managing director of Bank of Baroda With effect from 21 January 2013 Bank of Baroda has announced that the Central Government after consultation with the Reserve Bank of India, vide its notification dated 21 January 2013, has appointed S S Mundra as chairman & managing director of Bank of Baroda, with effect from the date of his taking over charge of the post till 31 July 2014, i.e. the date of his attaining the age of superannuation or until further orders, whichever is earlier. Mundra has taken over charge of the post from 21 January 2013.

Bank of Baroda to announce financial results Board meeting on 04 February 2013 The board meeting of Bank of Baroda will be held on 04 February 2013 to consider & approve the un-audited (reviewed) financial results of the bank for the quarter (Q3)/ nine months ended 31 December 2012.

Bank of Baroda To Hold Board Meeting On 24 December 2012 The board of Bank of Baroda in its meeting on 24 December 2012 has allotted 1550 crores equity shares of Rs 10 each, at such price as may be decided as per SEBI (ICDR) Regulations, on preferential basis in favour of Government of India.

M D Mallya ceases as CMD of Bank of Baroda Bank of Baroda has announced that M D Mallya, chairman & managing director of the bank, demitted his office with effect from 01 December 2012, consequent upon his superannuation at the close of working hours on 03 November 2012. Mallya was appointed as chairman & managing director of the bank with effect from 07 May 2008 by the Central Government under section 9(3) (a) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.

Central Government appoints Ranjan Dhawan as executive director of Bank of Baroda Bank of Baroda has announced that Rajiv Kumar Bakshl, executive director of the bank has ceased to be director on the board of the bank with effect from 01 November 2012, consequent upon his superannuation at the close of working hours on 31 October 2012. Further, the Central Government after consultation with the Reserve Bank of India has appointed Ranjan Dhawan as executive director of the bank with effect from the date of his taking over charge of the post i.e. 01 November 2012 till 30 September 2015 i.e the date of his superannuation or until further orders, whichever is earlier.

Masarrat Shahid ceases as director of Bank of Baroda With effect from 29 October 2012 Bank of Baroda has announced that Masarrat Shahid, director of the bank has ceased to be director on the board of the bank with effect from 29 October 2012, consequent upon expiry of her term on 28 October 2012.

Bank of Baroda to announce Q2 results Board meeting on 22 October 2012 The board meeting of Bank of Baroda will be held on 22 October 2012 to consider & approve the un-audited financial results (reviewed) of the bank for the second quarter (Q2) / half year ended 30 September 2012, together with relevant segment reporting.

Bank of Baroda`s statutory central auditors resigns Bank of Baroda has announced that Khimji Kunverji & Co., one of the statutory central auditors (SCAs) of the bank has resigned as the statutory central auditors of the bank for the FY 2012-13, due to technical grounds of number of audit assignments handled by them at present. Consequently, the limited review of the financial statements of the bank for the half year / quarter ended 30 September 2012 will be done by the following remaining five SCAs, Brahmayya & Co., Ray & Ray, S K Mittal & Co., N B S & Co and Laxminiwas Neeth & Co.

Bank of Baroda to revise interest rates on deposits With effect from 13 August 2012 Bank of Baroda has announced that the bank has decided to revise rates of interest payable on domestic term deposits of the bank with effect from 13 August 2012.

Bank of Baroda to announce Q1 results Board meeting on 30 July 2012 The board meeting of Bank of Baroda will be held on 30 July 2012 to consider & approve the un-audited (reviewed) financial results of the bank for the quarter/ three months ended 30 June 2012 (Q1).

Central Government appoints P Srinivas as executive director of Bank of Baroda Bank of Baroda has announced that the Central Government after consultation with the Reserve Bank of India has appointed P Srinivas as executive director of Bank of Baroda with effect from the date of his taking over charge of the post till 30 June 2016 i.e. the date of his superannuation or until further orders, whichever is earlier. P Srinivas has taken over charge of the post from 18 June 2012.

N S Srinath ceases as director of Bank of Baroda With effect from 01 June 2012 Bank of Baroda has announced that N S Srinath, executive director of the bank, ceased to be director on the board of the bank with effect from 01 June 2012 consequent upon his superannuation.

Bank of Baroda to announce financial results Board meeting on 15 May 2012 The board meeting of Bank of Baroda will be held on 15 May 2012 to consider and approve the audited financial results (consolidated) of the bank for the financial year ended 31 March 2012 together with relevant segment reporting.

Bank of Baroda to consider dividend Board meeting on 04 May 2012 The board meeting of Bank of Baroda will be held on 04 May 2012 to consider and approve the audited financial results (standalone) of the bank for the quarter/financial year ended 31 March 2012 and to recommend dividend, if any.

Bank of Baroda to reduce its base rate & BPLR With effect from 01 May 2012 Bank of Baroda has decided to reduce its deposit rates by 25 to 50bps in various maturities and its base rate and BPLR by 25 bps each with effect from 01 May 2012 to revive the sagging investment sentiment in the country. With this, the bank`s base rate will be at 10.50% and BPLR at 14.75% with effect from 01 May 2012.

Bank of Baroda allots equity shares On preferential basis Bank of Baroda has allotted 1,95,77,304 equity shares of the bank at Rs 840.10 to LIC of India on preferential basis.

Bank of Baroda to convene EGM On 27 March 2012 Bank of Baroda has announced that the extraordinary general meeting of the bank will be held on 27 March 2012.

Bank of Baroda to convene EGM On 27 March 2012 The board of Bank of Baroda in its meeting on 27 February 2012 has approved the proposal for issuing of equity shares upto 5% of pre-issue paid up capital of the bank in favor of Life Insurance Corporation of India (LIC) / Mutual Funds (MF) on preferential basis as per SEBI ICDR Regulations, subject to shareholders approval and other necessary regulatory/ statutory approvals. Further, the board has decided to convene extraordinary general meeting on 27 March 2012.

Bank of Baroda to hold board meeting On 27 February 2012 The board meeting of Bank of Baroda will be held on 27 February 2012 to consider the preferential issue of equity shares in favour of Life Insurance Corporation of India (LIC) / Mutual Funds (MF).

Bank of Baroda to announce Q3 results Board meeting on 25 January 2012 The board meeting of Bank of Baroda will be held on 25 January 2012 to consider & approve the un-audited (reviewed) financial results of the bank for the third quarter / nine months ended 31 December 2011, together with relevant segment reporting.

Dharmendra Bhandari & Deepak Phatak ceases as directors of Bank of Baroda With effect from 24 December 2011 Bank of Baroda has announced that Dharmendra Bhandari and Deepak Phatak ceased to be directors on the board of the bank with effect from 24 December 2011.

Bank of Baroda appoints new statutory central auditors Bank of Baroda has announced that the bank has appointed N B S & Co., Mumbai, S. K. Mittal & Co. New Delhi, Ray & Ray, Kolkata and Laxminiwas Neeth & Co., Hyderabad as new statutory central auditors of the bank for the year 2011-12 in place of Ashwani & Associates, Ludhiana, S. K. Kapoor & Co., Kanpur, N. C. Banerjee & Co, Kolkata and Haribhakti & Co., Mumbai, on completion of their tenure.

Bank of Baroda to convene EGM On 23 December 2011 The extraordinary general meeting of Bank of Baroda will be held on 23 December 2011 to consider issue and allotment of equity shares of Rs 10 each, aggregating to Rs 775 crore on preferential basis to Government of India.

Bank of Baroda to hold board meeting On 31 October 2011 The board meeting of Bank of Baroda will be held on 31 October 2011 to consider the issuance of equity shares/ warrants of face value of Rs 10 each on preferential basis in favour of Government of India.

Bank of Baroda to announce Q2 results Board meeting on 31 October 2011 The board meeting of Bank of Baroda will be held on 31 October 2011 to consider and approve the un-audited financial results (standalone-reviewed) of the bank for the second quarter / half year ended 30 September 2011, together with relevant segment reporting (Q2).

Bank of Baroda hikes interest rate on deposits by 25 to 50 basis points Effective from 14th September 2011, interest on deposits of Rs 1 crore and above have been hiked by upto 175 basis points Bank of Baroda has hiked the interest rate on deposits by 25 basis points from 9.0% to 9.25% for deposits of 1 year and upto 443 days. For deposits of 444 days, which is indicated as Baroda Utsav Deposit Scheme, the interest rates remain at 9.35%, and not changed. For deposits with a maturity range of 445 days and upto 3 years, the interest has been increased by 25 basis points to 9.00% as of now to 9.25% from 14th September 2011. The interest rate hike is steeper at 50% for deposits above 3 years but upto 5 years. For deposits accepted under tax savings scheme, the interest rate has been hiked by 50 basis points from 8.5% hitherto to 9.00% effective from 14th September 2011, for 5 year term. However, the interest rate remains unchanged at 8.5% for such deposits under tax saving scheme, if the term is above 5 years and upto 8.5%. All the above interest rates are in respect of deposits less than Rs 1 crore. Steeper rise in rates for deposits of Rs 1 crore and above In respect of deposits of Rs 1 crore and above, the bank has hiked the interest rates by whopping 175 basis points to 5.0% for 7-14 days tenure. Similarly, the rates were hiked by 125 basis points to 5.0% for deposits of 15-45 days tenure. The rates have been hiked by 175 basis points to 7.0% for deposits of Rs 1 crore and above, and for a tenure of 46 to 90 days. The interest rate has been hiked by 100 basis points to 8.0% for deposits of Rs 1 crore and above, and for a tenure of 91 to 180 days. The interest rate hike has been moderated to 90 basis points at 8.5% for deposits of Rs 1 crore and above, and for a tenure of 181 to 270 days. For a tenure of 271 days to 364 days, the interest rates have been hiked by 125 basis points to 9.0%, for deposits of Rs 1 crore and above. For deposits of one yar and above and upto 3 years, the interest on deposits of Rs 1 crore and above have been hiked by 75 basis points to 9.25%, effective from 14th September 2011.

Bank of Baroda to increase its base rate & BPLR With effect from 01 August 2011 Bank of Baroda has decided to revise rates of interest payable on domestic term deposits below Rs 1 crore and on term deposits of Rs 1 crore and above with effect from 01 August 2011. Further, the bank has decided to increase the bank`s base rate for domestic advances by 50 bps i.e. from 10.25% to 10.75% and Benchmark Prime Lending Rate (BPLR) by 50 basis points from 14.50% to 15.00% with effect from 01 August 2011.

Central Government appoints Vinil Kumar Saxena as director of Bank of Baroda With effect from 25 July 2011 Bank of Baroda has announced that the Central Government, vide its notification dated 25 July 2011 has appointed Vinil Kumar Saxena as workmen employee director on the board of the bank for a period of three years with effect from 25 July 2011 or until further orders, whichever is earlier.

Bank of Baroda to announce Q1 results Board meeting on 27 July 2011 The board meeting of Bank of Baroda will be held on 27 July 2011 to consider and approve the un-audited (reviewed) financial results of the bank for the quarter / three months ended 30 June 2011 (Q1) together with relevant segment reporting.

Bank of Baroda increases its base rate & BPLR With effect from 12 July 2011 Bank of Baroda has increased its Benchmark Prime Lending Rate (BPLR) by 25 basis points from 14.25% to 14.50% and base rate by 25 basis points from 10.00% to 10.25% with effect from 12 July 2011.

Central Government appoints Sudarshan Sen as director of Bank of Baroda With immediate effect Bank of Baroda has announced that the Central Government, vide its notification dated 30 May 2011 has nominated Sudarshan Sen (Regional Director, RBI, Ahmedabad) as director of Bank of Baroda, vice R Gandhi with immediate effect and until further orders.

Bank of Baroda to announce financial results Board meeting on 27 May 2011 The board meeting of Bank of Baroda will be held on 27 May 2011 to consider and approve the audited financial results (consolidated) of the bank for the financial year ended 31 March 2011.

Bank of Baroda increases its base rate & BPLR With effect from 06 May 2011 Bank of Baroda has decided to increase its Benchmark Prime Lending Rate (BPLR) by 50 basis points from 13.75% to 14.25% and base rate by 50 basis points from 9.50% to 10.00% with effect from 06 May 2011.

Bank of Baroda to consider dividend Board meeting on 28 April 2011 The board meeting of Bank of Baroda will be held on 28 April 2011 to consider and approve the audited financial results (standalone) of the bank for the quarter / financial year ended 31 March 2011 and to recommend dividend.

Bank of Baroda allots equity shares On preferential basis Bank of Baroda has announced that on 29 March 2011, the bank has allotted 2,72,79,579 equity shares of Rs 10 each for cash at a premium of Rs 892.14 amounting to Rs 2461 crore on preferential basis to Government of India. With the allotment of aforesaid shares the holding of the promoter i.e. Government of India in the Bank will be raised from 53.81% to 57.03%.

Bank of Baroda to allot equity shares EGM on 29 March 2011 The extraordinary general meeting of Bank of Baroda will be held on 29 March 2011 to obtain the approval of shareholders for allotment of 2,72,79,579 equity shares to Government of India on preferential basis.

Central Government appoints V B Chavan as officer employee director of Bank of Baroda With effect from 11 March 2011 Bank of Baroda has announced that the Central Government after consultation with the Reserve Bank of India, vide its notification dated 11 March 11, 2011 has nominated V B Chavan, Senior Manager, Bank of Baroda as officer employee director of Bank of Baroda for a period of three years with effect from 11 March 2011 or until he ceases to be an officer of the Bank of Baroda or until further orders, whichever is earlier.

Bank of Baroda to convene EGM On 23 March 2011 The extraordinary general meeting of Bank of Baroda will be held on 23 March 2011 to consider issue and allotment of 3,63,68,024 equity shares to Government of India on preferential basis.

Bank of Baroda to issue & allot equity shares To convene EGM The board of Bank of Baroda in its meeting on 05 March 2011 has decided to raise capital by creating, offering, issuing and allotting such number of equity shares of face value of Rs 10 each, aggregating upto Rs 3280.90 crore on preferential basis to Government of India. Further, the board has decided to convene extraordinary general meeting on 29 March 2011.

Bank of Baroda to issue equity shares Board meeting on 05 March 2011 The board meeting of Bank of Baroda will be held on 05 March 2011 to consider issuance of equity shares of face value of Rs 10 each on preferential basis in favour of Government of India.

Bank of Baroda to revise interest rates on deposits With effect from 01 March 2011 Bank of Baroda has announced that the bank has decided to revise rates of interest payable on domestic term deposits of the bank with effect from 01 March 2011.

Bank of Baroda to increase its BPLR & base rate With effect from 04 February 2011 Bank of Baroda has decided to increase its Benchmark Prime Lending Rate (BPLR) by 50 basis points from 13.25% to 13.75% and base rate by 50 basis points from 9% to 9.5% with effect from 04 February 2011.

Bank of Baroda to announce Q3 results Board meeting on 28 January 2011 The board meeting of Bank of Baroda will be held on 28 January 2011 to consider & approve the un-audited financial results of the bank for the third quarter / nine months ended 31 December 2010 (Q3).