BANK OF BARODA:
Serving 36 million customers around the world
Saga of vision, enterprise, financial prudence and corporate governance

Chairman & Managing Director of Bank of Baroda,
Mr. M. D. Mallya, delivering the keynote address during a
"Customers' Meet" organized by the Bank of Baroda, New York

"Bank of Baroda is a top ranking National Bank of International Standards committed to augmenting stake holders' value through concern, care and competence," said M. D. Mallya, Chairman and Managing Director of Bank of Baroda, during a reception and dinner organized in his honor at the Doubletree Metropolitan Hotel of New York on July 6, 2009.

Mallya, who assumed charge as Chairman and Managing Director of Bank of Baroda last year has been the Chairman & Managing Director of Bank of Maharashtra and Executive Director of Oriental Bank of Commerce. "It has been a long and eventful journey of almost a century across 25 countries," he told a group of nearly a hundred business and community leaders. "Starting in 1908 from a small building in Baroda to its new hi-rise and hi-tech Baroda Corporate Centre in Mumbai, it is a saga of vision, enterprise, financial prudence and corporate governance." Today, it serves 36 million customers around the world with nearly 20 percent of them, coming from its international operations.

Mallya said, "It is a story scripted in corporate wisdom and social pride. It is a story crafted in private capital, princely patronage and state ownership. It is a story of ordinary bankers and their extraordinary contribution in the ascent of Bank of Baroda to the formidable heights of corporate glory. It is a story that needs to be shared with all those millions - customers, stakeholders, employees & the public at large - who in ample measure, have contributed to the making of an institution."

Addressing the customers in New York, he said, "We also recognize that our bank is characterized by diversity. We have been customerfocused all along and our success is due to a high level of customer satisfaction and a long lasting relationship. Once a customer of Bank of Baroda, always a customer of Bank of Baroda," he said.

Several customers who had come forward to share their personal experiences while dealing with the Bank in front of the audience that evening bore witness to this fact. They shared their stories small and big, as to how their association with the Bank began decades ago and still continues, some even for generations.

R K Garg, General Manager, International Operations, said, "We offer a red carpet welcome to all NRIs to bank with us. As a premier nationalized bank in India, with comprehensive banking experience world-wide and by virtue of our consistent track record of profit making since 1908, we are confident of meeting all your banking requirements." He went on to tell the audience, "We understand you, the NRIs, your needs and immensely value your patronage and would like to extend to you our bouquet of products and services. We assure you the best possible banking experience and will ensure that your wealth continues to grow with us."

Bank of Baroda started its overseas journey by opening its first branch way back in 1953 in Mombassa, Kenya. Since then the Bank has come a long way in expanding its international network to serve NRIs/PIOs and locals. Today it has transformed into India's International Bank. Garg said, "It has significant international presence with a network of 76 offices in 25 countries including 48 branches/offices of the Bank, 25 branches of its 7 subsidiaries and 3 representative offices in Malaysia, Thailand & Australia. The Bank also has a joint venture in Zambia with 11 branches. The Bank has presence in world's major financial centers i.e. New York, London, Brussels, Dubai, Hong Kong, and Singapore. The "round the clock around the globe" Bank of Baroda is further in the process of identifying/opening more overseas centers for increasing its global presence to serve its 36 million global customers in a better way."

Keeping with Indian traditions, an Inaugural Lamp was lit during
the occasion of the Customer's Meet, which was organized by Bank of Baroda,
New York on July 6, 2009. Mr. Charles Gaenslen, COO, Welspun USA is lighting the lamp, while Mr. M. D. Mallya, Chairman & Managing Director, Bank of Baroda & Mr. R. K. Garg, General Manager, Bank of Baroda, International Operations look on.

The international network is supported by a large Indian network through international business branches, Non Resident Indian branches, 115 authorized Forex branches and more than 2600 other branches. The Bank has plans to establish overseas offices in New Zealand, Russia, Canada, Qatar, Mozambique, Suriname, Kuwait, Saudi Arabia etc. and also open additional branches in UAE, Oman, USA, China, Trinidad & Tobago and Uganda. It has further plans to upgrade its representative offices in Malaysia and Australia to branches. "Our International Banking network is further augmented by correspondent links with more than 500 leading banks in every country around the world over. Being the one of largest banks of the country with the maximum number of branches overseas, Bank of Baroda is well positioned to offer a variety of services, products and financial solutions to a cross section of clients. Our products suit our clients' banking requirements by virtue of being one of the best banking relationship networks both in terms of strength and spread among the Indian financial entities," Garg said.

Earlier, V. Seshadri, the outgoing Chief Executive of the New York Branch, while delivering the welcome address, said, "Bank of Baroda at New York is nearing three decades of significant service with an unblemished record of excellent reputation in US. We are now entering an era of consolidation and technology by broadening our business/client base both geographically and functionally. Our branch is FDIC insured since 1980 and our name spells security, safety, soundness, service with smile and swiftness in operations. Customer delight is our motto."

The Chairman & Managing Director of Bank of Baroda, Mr. M. D. Mallya (seated second from right) looks on during the customer's feedback session on the occasion of the "Customers' Meet" organized by Bank of Baroda at the Double Tree Metropolitan Hotel on July 6, 2009. Other Bank officials present from left to right are, Mr. R .K. Garg, General Manager, International Operations, Mr.V. Seshadri, Chief Executive, U. S. Operations & Mr. K. D. Lamba (extreme right), soon to take over charge of U. S. Operations from Mr. Seshadri.

"As you know, Indo US trade is set to grow rapidly. You'll feel home away from home in Bank of Baroda. Bank of Baroda is not only India's international bank but also an emotional bank built on the edifice of ten decades of relationship banking with devoted and dedicated staff and the patronage of millions of enlightened customers. We solicit your continued support and wish you to be a part of ever increasing and prospering customers of Bank of Baroda."

K. D. Lamba the incoming Chief Executive of U.S. Operations,
proposes the Vote of thanks at the end of the Customers' Meet.

While introducing Mallya, Sheshadri said, "After a Bachelor of Engineering (B.E.) degree from Karnataka Regional Engineering College, Suratkal, Karnataka and a post-graduation Diploma in Management from Indian Institute of Science, Bangalore, M D Mallya started his banking career by joining the Corporation Bank in August 1976. In a career spanning over 29 years with Corporation Bank, he acquired rich experience in the field of banking at various positions and assignments. His tenure as Executive Director of Oriental Bank of Commerce (OBC) for 9 months was marked by several new initiatives and leadership inputs. The merger of erstwhile Global Trust Bank (GTB) with OBC was streamlined. Under the able and dynamic leadership of Shri. M. D. Mallya, as Chairman & Managing Director, Bank of Maharashtra has made rapid strides in all its spheres of activities like business growth, technology, HR, organizational restructuring, etc. Mallya has wide exposure to management education and has undergone training programs in leading academic institutes like Indian Institute of Management (IIM), Ahmedabad, National Institute of Bank Management (NIBM), Pune and Boston Consultancy Group (BCG)."

K. D. Lamba, the incoming Executive of US Operations, said, "Listening to your experiences with our bank has moved us all and I thank you all for your overwhelming support and patronage." He urged the NRI community to provide him with the same support they had given to his predecessor, Sheshadri. "I promise and will try my best to meet your expectations, even as I want to appeal to you to reach out to other potential clients and encourage them to come and be part of the larger family of the Bank of Baroda."

Lamba has come to New York after heading the Bank's Treasury Operations and Resource Mobilization. As Chief Executive of Bank of Baroda's US Operations, Lamba will also be functioning as the Chairman of Bank of Baroda (Guyana) Inc. and Director of Bank of Baroda (Trinidad & Tobago) Ltd., which are wholly owned subsidiaries of Bank of Baroda.

K. D. Lamba holds a Bachelor's Degree in Spanish from Jawahar Lal Nehru University, Delhi and a Master's Degree in History from India. He is also a Junior Associate of the Indian Institute of Bankers. Lamba joined Bank of Baroda in 1981 and has 28 years of experience. He worked in various branches and offices of the Bank and headed some important branches in strategic centers across the country. He is well versed in all kinds of banking operations viz. branch banking, credit, corporate banking, correspondent banking, trade finance, and international banking with specialization in foreign exchange and treasury operations. He worked as the Chief Dealer and then headed the Bank's Global Treasury Operations and Resource Mobilization.

Lamba has attended various training programs on banking and financial market in India and abroad. He has participated in important international conferences and seminars in Bangkok, Montreal, Singapore, Vienna, Macau and Cape Town. As head of Bank of Baroda's treasury operations, Lamba has also been holding several assignments, including, Chairman, Forex Association of India [Affiliated to ACI International Association of Financial Market, Paris], Director on Board of Clearing Corporation of India Ltd. [CCIL] and Central Depository Services (India) Ltd. [CDSL], as well as The Idea Cell that handles settlement of payment through electronic media against various service providers.

Lamba has over 40 years of experience with Bank of Baroda, heading branches, region and zone and working in the Bank's Corporate Office and has a wide range of experiences in branch banking, credit, foreign exchange, corporate banking, general banking and regulatory compliance. He has had his international banking exposure in the United Arab Emirates for three years from 1996 to 1999 and in the United States of America from January 2006 onwards.

[ BY AJAY GHOSH ]