Bank of Baroda has secured a significant regulatory milestone with the Reserve Bank of India's in-principle approval for transferring its Primary Dealer authorization to a wholly owned subsidiary. The approval was disclosed by the bank on January 9, 2026, in compliance with SEBI regulations.

Regulatory Approval Details

The RBI's in-principle approval covers the transfer of the bank's existing Authorization as a Bank Primary Dealer to a proposed wholly owned subsidiary. This strategic move will enable the establishment of a standalone Primary Dealer business operation.

Implementation Requirements

The establishment of the standalone Primary Dealer business remains subject to obtaining other regulatory approvals beyond the RBI's in-principle consent. The bank has not specified the timeline for securing these additional approvals or the expected launch date for the subsidiary operations.

Compliance and Disclosure

Bank of Baroda made this disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The bank has committed to providing further disclosures as material developments occur in the matter, ensuring transparency for stakeholders and regulatory compliance.

The communication was signed by S Balakumar, Company Secretary, and formally submitted to both BSE Limited and National Stock Exchange of India Limited on January 9, 2026.

Bank of Baroda delivered robust business performance in the third quarter of fiscal year 2026, with key metrics exceeding management expectations and driving investor confidence across both domestic and global operations. The bank filed its official business update under Regulation 30 on January 4, 2026, reporting performance data as of December 31, 2025.

Strong Global Business Performance

The state-run lender's global business demonstrated impressive growth momentum during the October-December period. The following table highlights the key performance metrics:

The loan book growth of 14.57% significantly outperformed the management's guidance range of 11% to 13%, demonstrating the bank's strong business execution. The global business reached ₹28.91 trillion as of December 31, 2025.

Domestic Business Expansion

Bank of Baroda's domestic operations showed exceptional performance across all segments. The updated domestic business metrics are presented below:

The domestic retail advances, excluding pool purchases, surged 17.30% to ₹2.85 trillion, indicating strong retail customer acquisition and market penetration. The domestic advances growth of 13.54% demonstrates the bank's robust lending momentum in the domestic market.

Regulatory Compliance and Transparency

The bank filed this business update in accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information. The data is provisional and subject to audit/review by Statutory Central Auditors of the Bank.

Strategic Focus and Market Position

The Gujarat-based PSU bank has guided for 11-13% credit growth, driven largely by the retail and MSME segments. Bank of Baroda stands as the second-largest state-owned bank in India in terms of assets and market capitalisation.

The bank's strategic priorities include strong traction in specific pockets of corporate lending business, focus on reducing dependency on bulk deposits due to their volatile nature, and emphasis on building a more stable deposit base. The strong quarterly metrics position Bank of Baroda favorably in the competitive banking sector.