Bank of Baroda (NZ) Limited is poised to play a significant role in deepening economic collaboration between New Zealand and India as free trade negotiations gain momentum. With two branches in Auckland and Wellington, and a vast network of over 8,200 branches across India, the bank is strategically positioned to facilitate trade, commerce, and business-to-business and people-to-people contact. The bank’s presence in New Zealand is not just about providing financial services, but about fostering stronger bilateral ties and supporting the flow of goods, services, and capital between the two nations.
Recently, the bank announced a pivotal decision to reverse its earlier plan to divest its stake in its New Zealand subsidiary, reaffirming its long-term commitment to the country. This decision follows a comprehensive strategic review and invaluable stakeholder feedback. The bank’s new Managing Director, Sandeep Kumar Khetan, is keen to develop stronger ties with customers, expand business, and be the financial heart of the communities it serves.
Bank of Baroda (NZ) Limited offers a comprehensive suite of financial services, including savings and deposit accounts, lending products, remittance services, trade finance, and foreign exchange services. The bank’s commitment to understanding its customers’ unique requirements and providing personalized solutions has been a cornerstone of its success, fostering a loyal customer base that consistently praises its efficiency and supportive approach.
The bank is poised to embark on an ambitious strategic programme focused on enhancing its value proposition and deepening its market penetration. This includes enhancing its digital banking infrastructure, strengthening its local offerings, and fostering stronger community ties. The bank aims to deepen its relationships with customers and partners nationwide, contributing meaningfully to New Zealand’s economic landscape.
As a wholly-owned subsidiary of the parent entity, Bank of Baroda, the bank has access to a global network spanning 17 countries and serving millions of customers worldwide. The parent entity is a formidable international banking group with a rich heritage of trust and innovation, boasting total assets of US$198.39 billion and a complement of 75,000 staff.
With its renewed commitment, Bank of Baroda (NZ) Limited is firmly positioned to play a significant role in the continued prosperity of New Zealand. As free trade negotiations progress, the bank stands ready to further its role as a trusted partner, facilitating trade, fostering business connections, and continuing to serve its customers with excellence. The bank’s strategic vision for the future is focused on enhancing its value proposition, deepening its market penetration, and contributing meaningfully to New Zealand’s economic landscape.