Bank of Baroda to offer wealth management services in Gulf
Largest Public sector lender, Bank of Baroda (BoB) has announced that it would be offering up wealth management services in the United Arab Emirates (UAE), and its joining hands with Reliance Mutual Fund (RMF) marked the beginning of this process.
This is the first step by the bank towards offering wealth management services.
Under the venture, the bank will distribute the mutual fund products of Reliance in the Gulf Cooperation Council (GCC) region through its six branches in the UAE and three in Oman.
Apart from the UAE and Oman, the GCC comprises Bahrain, Kuwait, Qatar and Saudi Arabia.
Shares of Bank of Baroda settled at Rs 208, low 0.86 per cent on National Stock Exchange. The total volume of shares traded was 249,323 at the Bombay Stock Exchange (Friday).