FEBRUARY 18, 2011, AUCKLAND 16

overseas offices spread across

26 countries.

Bank of Baroda is India’s

International Bank. Today
Bank of Baroda is one of the
leading commercial banks
in India. The Bank has been

ADVERTORIAL awarded the “The Best Bank

of the Year” award recently
.he Bank also won SKOCH
Challenger award for “Bank of

B
ANK OF in India and the present Bank the Year in March 2010.
of Baroda was earlier called
“The Bank of Baroda Limited”. Bank of Baroda’s mission
is to be a top ranking National
BARODA (NEW Bank of International
ZEALAND) LIMITED - THE Standards committed to
FIRST INDIAN BANK IN NEW augmenting stakeholders’ The Bank’s maturities. These products are
ZEALAND value through concern, care “Rapidfund2india”product offered to individual as well as
and competence. is unique for instant transfer business entities.
ANNOUNCES ITS of funds. The electronic
OFFICIAL LAUNCH ON In terms of business, Bank fund transfer does not have The Bank offers loan and
4TH FEBRUARY 2011 AT of Baroda’s total business any intermediaries and the advances to retail sector,
114, DOMINION ROAD, MT. exceeds USD 100 billion with remittance can be made to any small and medium enterprises,
EDEN, AUCKLAND net worth of USD 3 billion. It bank in India which covers professionals, and corporate
is tryly India’s International approx 60,000 branches clients. Our products include
About us Bank. besides Bank of Baroda’s own home loans, overdraft
Bank of Baroda (New branches. The product is facilities, mortgage loans,
Zealand) Limited (BOBNZ) Bank of Baroda (New offered to the customers of the term loans of short to long
is a wholly owned subsidiary Zealand) Limited (BOBNZ) – BOBNZ free of charge for up to term, project finance etc. The
of Bank of Baroda, India. It operations two transactions per month. bank undertakes opening of
documentary letters of credit,
standby letters of credit and
bank guarantee business.

To the importers, it
offers financing of imports,
establishment of letters of
credit and undertakes related
bill business. For exporters,
the bank offers financing
the requirements including
discount of export bills.

BOBNZ shares the mission

of the parent bank and strives
for the same high level of
satisfaction. BOBNZ is a bank
that brings the rich legacy of
the parent Bank and is here

was incorporated in New

Zealand on 27th May 2007
and registered with Reserve
Bank of New Zealand on 1st
September 2009 under the
RBNZ Act 1989.

All liabilities of BOBNZ

are guaranteed by the parent
Bank, Bank of Baroda.BOBNZ
is the first Indian Bank in New
Zealand.BOBNZ is governed
by the Board of Directors,
headed by their Chairman,
Mr. M D Mallya, who is also
the Chairman and Managing
Director of the parent Bank. Mr.
Satish Vermani is the Managing
Director. The Board also
comprises of two independent It was founded in 1908 by BOBNZ commenced its - We understand BOBNZ is to serve all ethnic groups and
New Zealand based Directors, the late Maharaja of Baroda , operations by way of soft the only Bank to offer this communities in New Zealand
Dr. Rajen Prasad , and Mrs SirSayajirao Gaewkward III. launch in June 2010. The Bank product.
Vijaya Vaidyanath who are From its humble beginnings, offers various products on During the six month period
well known locally. the Bank has grown over deposits and loans,advances BOBNZ deposit products since the soft launch in June
the years to emerge as an and other services including include current account, 2010, the Bank has opened
About parent Bank – Bank Indian financial powerhouse. a handy remittance facility to savings, premium savings, more than 1000 accounts and
of Baroda, India It has a strong net work of India. recurring deposit schemes and the response is overwhelming
Baroda was a princely state 3347 Branches including 84 fixed deposit schemes for varied and encouraging.