Exclusive: Bank of Baroda kicks off process to find strategic investor for cards biz
Credit card company Bobcards Ltd, a wholly-owned subsidiary of Bank of Baroda, has kickstarted the process of finding a strategic investor as it eyes new capabilities and business lines to expand the business. The move comes on the heels of a change of guard at the helm of the company. Bobcards recently appointed Manoj Piplani—who worked with Barclays Bank in London as Managing Director of UK Cards and has over 20 years' experience—as managing director. The company, which is exploring the possibility of forming a joint venture or teaming up with a strategic partner for execution of business strategy,...
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Bank of Baroda is engaged in providing banking services. It caters to wholesale, rural, agriculture, wealth management, deposits, loan, prepaid cards, demat account, internet, mobile banking etc. It offers wholesale banking, small and medium enterprise banking, deposits, loans and advances and services. The company was founded in 1908 and is based in Mumbai, Maharashtra. Bank of Baroda operates as a subsidiary of The Government of India.