That same year BoB lost its branch in Narayanganj (East Pakistan) due to the Indo-Pakistani War of 1965.
Back in India, in 1975, BoB acquired the majority shareholding and management control of Bareilly Corporation Bank (est.
Since then, Nainital Bank has expanded to Uttarakhand, Uttar Pradesh, Haryana, Rajasthan and Delhi state.
That same year BoB also opened an Offshore Banking Unit (OBU) in Bahrain (Gulf).
In 1996, BoB Bank entered the capital market in December with an initial public offering (IPO).
The next year BoB bought out its partners in IUB International Finance in Hong Kong.
Apparently this was a response to regulatory changes following Hong Kong's reversion to the People's Republic of China.
In 2002, BoB converted its subsidiary in Hong Kong from deposit taking company to a Restricted License Bank.
BSB had been established in 1946 but traced its origins back to 1871 and its function as the treasury office of the Benares state.
[citation needed] In 2004 BoB acquired the failed south Gujarat Local Area Bank.
BoB also opened a representative office each in Kuala Lumpur, Malaysia, and Guangdong, China.
[citation needed] In 2006 BoB established an Offshore Banking Unit (OBU) in Singapore.
[citation needed] In 2008 BoB opened a branch in Guangzhou, China (02/08/2008) and in Kenton, Harrow United Kingdom.
[citation needed] In 2011 BoB opened an Electronic Banking Service Unit (EBSU) at Hamriya Free Zone, Sharjah (UAE).
BoB closed its representative office in Malaysia in anticipation of the opening of its consortium bank there.
BoB received 'In Principle' approval for the upgrading of its representative office in Australia to a branch.
Bob also acquired Mumbai-based Memon Cooperative Bank, which had 225 employees and 15 branches in Maharashtra and three in Gujarat.
[19] Bank of Baroda announced in May 2019 that it would either close or rationalise 800–900 branches to increase operational efficiency and reduce duplication post-merger.
[25] Among the Bank of Baroda's overseas branches are ones in the world's major financial centres (e.g., New York, London, Dubai, Hong Kong, Brussels and Singapore), as well as a number in other countries.
[26] The Bank of Baroda has received permission or in-principle approval from host country regulators to open new offices in Trinidad and Tobago and Ghana, where it seeks to establish joint ventures or subsidiaries.
[27] The company started strongly, achieving a turnover in excess of ₹ 2 billion in its first four and half months.
[28][29][30] On 4 September 2017 the South Africa Financial Intelligence Centre fined Bank of Baroda ₹ 11 million (equivalent to US$837,000) for flouting anti-corruption laws in transactions on accounts owned by the Gupta family.
[39] According to a report by the Organized Crime and Corruption Reporting Project (OCCRP), the Bank of Baroda allowed the Gupta family to move millions of dollars in alleged corrupt business transactions to offshore accounts.
[40] Although the Bank of Baroda denies the illicit behavior, the documents report that the bank's South African branch issued unapproved loan guarantees, ignored internal compliance efforts, and averted regulators from learning about suspicious transactions in a way that benefited the Guptas’ network.
[39] Reports reveal that inter-company loans provided an untraceable and inexplicable technique used by the Gupta brothers to transfer money from the Bank to various Gupta-owned companies like Trillion Financial Advisory and Centaur Mining.
[40] Most SARs failed to reach the South African Financial Intelligence Centre as a result.