Managing Director & CEO, Bank of Baroda, Dr Debadatta Chand (third from right) and others officials during the launch of bob Securities & Giltedge Limited on October 26.
Mumbai, October 27 (MExN): Bank of Baroda has expanded its presence in the government securities and debt capital markets with its wholly owned subsidiary, bob Securities & Giltedge Limited, commencing operations as a Non-Banking Financial Company (NBFC).
The company, registered under the NBFC-ND-ICC category, unveiled its corporate identity and logo and launched its official website, www.bobgiltedge.in, during an event held to mark the commencement of its operations.
According to a press release issued by Bank of Baroda on October 26, the subsidiary’s launch aligns with the bank’s strategy to strengthen the BOB Group through specialised capabilities, expand its business scale and diversify its financial services.
Dr Debadatta Chand, Managing Director and CEO of Bank of Baroda, said the new subsidiary would help strengthen the bank’s presence in government securities and debt capital markets.
He said the company would contribute to the development of India’s financial markets through market-making and related activities, enhance market efficiency and encourage wider investor participation, including through the Reserve Bank of India’s Retail Direct platform.
Chand added that dedicated subsidiaries such as bob Securities & Giltedge Limited would create new avenues for growth and strengthen the overall BOB Group.
The launch event was attended by directors of Bank of Baroda and bob Securities & Giltedge Limited, along with other dignitaries.
Bank of Baroda was founded on July 20, 1908, by Sir Maharaja Sayajirao Gaekwad III. The Government of India holds a 63.97% stake in the bank, which serves more than 180 million customers through approximately 65,000 touchpoints across 15 countries, according to the release.
