BOB to change logo on June 6

Bank of Baroda is slated to change its logo on June 6 as part of its brand implementation road map, a move that may require the profit making bank to spend about Rs 600 crore (Rs 6 billion).

Started in 1908, the bank intends to change brand design and would not ordinarily change its name, sources said, adding the move may still have impact on long-term image and revenue.

Bank of Baroda, which reported a net profit of Rs 676.84 crore (Rs 6.76 billion) during 2004-05, has a presence in 20 countries with the total number of branches standing at 2,744 in India as well as abroad.

In the domestic market, it has 2,706 branches, of which the bulk of 1,182 are in rural areas, 537 in semi-urban areas, 496 in metros and 491 in urban areas, while it has 38 branches in foreign shores.

The domestic subsidiaries of the bank are BOB Housing Finance, BOB Asset Management, BOBcards and BOB Capital Markets.

Its international subsidiaries are Bank of Baroda (Botswna), Bank of Baroda (Kenya), Bank of Baroda (Uganda), Bank of Baroda (Hong Kong), Bank of Baroda (Guyana) and Bank of Baroda (UK) and has representative offices in China and Malaysia.