ISSUE
Friday, August 15, 2025
Volume 16 . Issue 72
Bank of Baroda will open its doors to customers soon, Satish Virmani, Managing Director Bank of Baroda New Zealand, told Indian Weekender. The premises on Dominion Road in Mount Eden, Auckland was almost ready with the infrastructure all in place, Mr Virmani said.
On September 1 last year, the bank became the country’s nineteenth banking company after receiving a licence to operate from the Reserve Bank of New Zealand.
Starting up with a capital of NZ$40 million, the bank plans to roll out residential mortgages from the start but concentrate its activities in the short term to retail and wholesale banking.
“The Indian Diaspora will be the bank’s focus but we will try to serve all ethnic communities here and we will provide our products and service to the satisfaction and expectation of the local customers,” Mr Virmani had earlier told Indian Weekender.
He said the bank was on track to start all services from day one.
The bank operates in New Zealand as a subsidiary of India’s third largest public sector bank, which has assets of over US$ 50 billion and operates 3000 branches in nearly 70 countries across the world.
Bank of Baroda will open its doors to customers soon, Satish Virmani, Managing Director Bank of Baroda New Zealand, told Indian Weekender. The premises on Dominion Road in Mount Eden, Auckland was almost ready with the infrastructure all in place, Mr Virmani said.
On September 1 last year, the...
Bank of Baroda will open its doors to customers soon, Satish Virmani, Managing Director Bank of Baroda New Zealand, told Indian Weekender. The premises on Dominion Road in Mount Eden, Auckland was almost ready with the infrastructure all in place, Mr Virmani said.
On September 1 last year, the bank became the country’s nineteenth banking company after receiving a licence to operate from the Reserve Bank of New Zealand.
Starting up with a capital of NZ$40 million, the bank plans to roll out residential mortgages from the start but concentrate its activities in the short term to retail and wholesale banking.
“The Indian Diaspora will be the bank’s focus but we will try to serve all ethnic communities here and we will provide our products and service to the satisfaction and expectation of the local customers,” Mr Virmani had earlier told Indian Weekender.
He said the bank was on track to start all services from day one.
The bank operates in New Zealand as a subsidiary of India’s third largest public sector bank, which has assets of over US$ 50 billion and operates 3000 branches in nearly 70 countries across the world.
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