India’s leading public sector bank with presence in over 5 continents, spanning across 25 countries has soft launched its services in the New Zealand market.
With the opening of the first account, the retail banking branch and the corporate office was opened to the public at 114 Dominion Road Auckland on Thursday, June 24.
This is a historic defining moment for every Kiwi Indian to be proud of as this has set the scene for the arrival of the Indian banking giant on Kiwi soil.
Though there is no official press release yet, the Indian Weekender team was privileged to have an exclusive preview of this well-appointed modern branch and as usual Indian Weekender is the first to bring this news to the Indian Diaspora.
The interior of the branch has been done up to a standard comparable to the best in the world and this is a clear indication that the bank does not want to play second fiddle to any of the existing Kiwi banks.
The vision and hard work of Shri S C Vermani Managing Director of Bank of Baroda New Zealand has borne fruit with this successful launch of the bank’s services.
The hi-tech computer system of the bank is linked directly to its Indian branches and any money deposited in Auckland will be seamlessly available in any Bank of Baroda branch in India and vice versa. This is the reason why its leading personal remittance product - Rapidfunds2India has been very popular with the NRI community for its speed and ease.
As a background, Bank of Baroda has its corporate Head Quarters in Mumbai. Present day Bank of Baroda is the successor of the erstwhile "The Bank of Baroda Limited", founded in 1908 in a small town - Baroda by the great visionary, the Late Maharaja of Baroda – Sir Sayajirao Gaekwad III.
From its humble beginnings, the Bank has grown over the years, to emerge as an Indian Financial Powerhouse. It has a network of over 3100 branches in India across the length and breadth of the country. It has 78 overseas branches/foreign offices in 25 countries across 5 continents serving a Global customer base of over 39 million.
Bank of Baroda (New Zealand) Ltd (BOB) is a wholly owned subsidiary of Bank of Baroda - India’s International Bank. BOB was incorporated on May 27, 2007. It is a registered bank since September 1, 2009 under the Reserve Bank of New Zealand Act 1989. All liabilities of Bank of Baroda (New Zealand) Ltd are guaranteed by its Parent Bank – Bank of Baroda.
Indian Weekender understands that an official launch will be held in August and the Indian Diaspora is welcome to visit the branch or call and talk to the friendly team on 09-6321020 about all their personal banking needs.
More details can be had by visiting the bank’s newly launched website http://www.barodanzltd.co.nz
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"We will provide all basic banking: retail banking, wholesale banking"