Bank of Baroda, one of India’s biggest lenders, aims to double its balance sheet over the next five years by capitalizing on the country’s strong economic growth, expanding fee-based businesses and deepening its presence overseas.
Debadatta Chand, chief executive officer of the bank, which absorbed two state-run lenders in 2019, said larger balance sheets will be crucial as lenders look to compete globally. “If India wants globally competitive banks, scale and capital base are very important,” he said in an interview. “There are advantages to consolidation.”
