Bank of Baroda Targets Wholesale Banking Abroad After 40% Jump in International Advances

Bank of Baroda plans to expand its international network, targeting wholesale banking in developed economies and retail banking in emerging markets, managing director and chief executive officer Debadatta Chand said. International advances rose 40% year-on-year to about ₹3.25 trillion as of September 30, while international deposits rose 15% to ₹2.62 trillion, Mint reported.

Chand Outlines Wholesale and Retail Split

Bank of Baroda is India's second-largest public sector bank, majority-owned by the Government of India, with more than 8,500 domestic branches and international offices in over 15 countries. The lender is assessing opportunities across geographies, but specific markets and expansion timelines have not been finalized, Chand said. The bank will announce specific markets after completing assessments and securing the necessary approvals, he said.

"We are trying to increase our international footprint. We have seen that the growth in our international book has been very significant, and the asset quality has also been positive," Chand said. The bank operates nearly 35 directly run branches and offices and about 45 through overseas subsidiaries, with an IFSC Banking Unit at GIFT City and Electronic Banking Service Units in the United Arab Emirates. Its network spans New York, London, Dubai and Singapore, alongside markets across Africa, Australia, Fiji, Mauritius and Seychelles, and primarily serves Indian companies, cross-border trade and non-resident Indians.

International business accounted for 16-17% of the bank's global business, which exceeded ₹32.5 trillion. Under the Reserve Bank of India's special window for foreign currency deposits, the lender mobilized approximately $8.08 billion through FCNR(B) deposits, and another $1.1 billion came through other routes, taking total mobilization to approximately $9.18 billion, Chand said.

Overseas Deposits and Margin Guidance

According to akta.pro company records, Bank of Baroda's global business stood at ₹30.51 lakh crore (US$3.65 trillion) as of June 30, 2026, up 15.46% year-on-year, with global advances of ₹14.17 lakh crore (US$1.70 trillion) and global deposits of ₹16.34 lakh crore (US$1.96 trillion). The same records list a June 2026 partnership with Mizuho Bank for M&A financing and corporate advisory solutions.

Bank of Baroda expects its net interest margin to improve in the December quarter, as higher lending rates feed through faster than rising funding costs. Nearly 38% of its loan book is linked to the repo rate, and repricing following the recent policy rate increase has already taken place. "I am very positive about Q3 margin being better than Q2," Chand said. The bank retained its NIM guidance of 2.75-2.95% for fiscal year 2027.

Earlier Moves in Legal and Retail Banking

On October 31, 2026, India Today reported that two interim applications were filed in a commercial suit where NMC Healthcare's founder accused Bank of Baroda and 25 other defendants of fraud, negligence and collusion, seeking a $15 billion settlement, and the bank had not yet replied. On October 26, 2026, BusinessLine reported that the bank's wholly-owned subsidiary bob Securities & Giltedge Ltd commenced operations as a non-deposit taking NBFC. On October 22, 2026, The Times of India reported that the bank launched its festive campaign "Bob Ke Sang Tyohaar Ki Umang—Shubh Bhi, Labh Bhi," offering retail and MSME loans, savings products and debit card discounts.

Capital Raising and IndiaFirst Life Listing

Bank of Baroda plans to raise ₹6,000 crore through additional tier-I and tier-II bonds during the current financial year, and has announced plans to raise up to ₹8,500 crore through equity issuance over the medium term ending FY28. The bank is considering a potential listing of IndiaFirst Life Insurance, with timing dependent on market conditions, and has no immediate plans to sell stakes in its other subsidiaries, Chand said.