'ORGANISATIONS THAT CAN QUICKLY ADAPT TO CHANGE WILL FLOURISH'

Sayajirao Gaekwad III, the king of the erstwhile princely state of Baroda, set up several institutions to modernise the state. One of them was Bank of Baroda, which completed 115 years of operations last month. It is India's second largest public-sector bank as per total business as of March 31, 2023. In an interview with Rajat Mishra, its MD and CEO Debadatta Chand talks about its glorious past and the transformational changes that continue to keep it relevant

- Rajat Mishra

Tell us about the idea behind establishing Bank of Baroda.

Bank of Baroda was founded on July 20, 1908, by Maharaja Sayajirao Gaekwad III in the Baroda state, now in Gujarat. Maharaja Sayajirao undertook many progressive reforms for the economic development of the state. One among these was establishing the Bank of Baroda. Its first branch was set up in Mandvi area.

Where does the bank stand at present?

It has come a long way and is today recognised as a world-class, highly respected Indian financial services institution with presence across the country as well as in 17 other countries. After 115 years, in 2023, it became India’s second-largest public-sector bank with a total business of Rs 21,73,236 crore as of March 31, registering a growth of 16.6% year on year.