Bank of Baroda Revenue and Competitors

Bank of Baroda is one of India's leading commercial banks. As of 31st March 2007 we had 2.704 branches in India spread over 27 states and five union territories. In addition, on a consolidated basis, we have an international presence in 23 countries across the globe. As of 31st March 2007, we had a work force of 38.086 people serving over 25 million customers. We were established in 1908 in Baroda as a private bank and following nationalization became a wholly-owned Government bank in 1969. Our head office is in Baroda and our corporate office is in Mumbai. We had our initial public offering in 1996 at which time the shareholding of the Government of India was diluted to 66,83%. We have a diverse shareholder base, and we believe Government support to the Bank is regarded favourably by the general public. We have been profitable continuously and have a consistent record of paying dividends to our shareholders. We maintain the highest credit rating for both our short-term and long-term borrowings from the following rating agencies: CRISIL; ICRA; and FITCH. Moody's have given us a financial strength rating of 'D(FSR)' and a rating of 'Ba2' for long term deposits, which reflects a stable outlook. In addition, we were the first public sector bank to obtain a corporate governance rating, and were assigned a rating of "CGR-2" from ICRA, demonstrating the high quality of our corporate governance. Bank of Baroda, Brussels has been in existence since 1976.