Bank of Baroda gains as its arm partners with Indian Navy to launch co-branded credit card

Bank of Baroda is currently trading at Rs. 79.55, up by 0.10 points or 0.13% from its previous closing of Rs. 79.45 on the BSE.

The scrip opened at Rs. 78.35 and has touched a high and low of Rs. 80.15 and Rs. 77.00 respectively. So far 1543967 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 108.00 on 10-Nov-2021 and a 52 week low of Rs. 60.75 on 30-Dec-2020.

Last one week high and low of the scrip stood at Rs. 84.30 and Rs. 77.00 respectively. The current market cap of the company is Rs. 41138.19 crore.

The promoters holding in the company stood at 63.97 % while Institutions and Non-Institutions held 22.52 % and 13.50 % respectively.

Bank of Baroda’s wholly-owned subsidiary — BOB Financial Solutions has partnered with Indian Navy to launch co-branded credit card for navy personnel. The credit card will be equipped with contactless features and will be offered on the RuPay platform.

The base variant will be offered as a lifetime free credit card, the other two variants will be offered at joining and annual fees, with welcome gifts and easily achievable spend-based fee reversal/waiver. A navy personnel up to the age of 64 years will be eligible to choose from three variants of the co-branded credit card.

As an introductory offer, the joining fee will be waived off for applications in the first three months of launch.

The top variant will offer unlimited complimentary domestic airport lounge access and reduced markup on international spends.

Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services.

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