Bank of Baroda started its foot prints in Hong Kong as a joint venture with two other banks as a Deposit Taking Company named IBU International Finance Ltd., on 18th August, 1980. Later in the year 1999, share of two joint venture partners was taken over by the Bank and w.e.f 8th September 1999 its name was changed to BOB International Finance Ltd. which became a wholly owned subsidiary of the Bank of Baroda. The subsidiary was upgraded from Deposit Taking Company to Restricted License Bank from 24th June 2002 and the name was then changed to Bank of Baroda (Hong Kong) Ltd. Bank got full fledged banking license from Hong Kong Monetary Authority (HKMA) on 25th August, 2006 and entire deposits and advances portfolio of Bank of Baroda (Hong Kong) Ltd. was taken over by Bank of Baroda w.e.f. 2nd April, 2007.
Our products and services offered in Hong Kong include:
- Providing Personal Banking services viz. Savings Bank Deposits, Current / Checking Accounts, Fixed Deposits, Remittance facilities and NRI services etc.
- Providing Trade Finance services to support import and export needs of customers.
- Providing Trade Finance by way of buyer’s credit to support India’s trade with Hong Kong, China and other countries.
- Providing Loans and syndicating loans for corporates.
- Providing Treasury services to its customers.
- Providing Correspondent Banking facilities to banks.