Bank of Baroda gains on inking co-lending pact with Paisalo Digital
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Bank of Baroda is currently trading at Rs. 106.85, up by 0.75 points or 0.71% from its previous closing of Rs. 106.10 on the BSE.
The scrip opened at Rs. 106.50 and has touched a high and low of Rs. 107.20 and Rs. 106.30 respectively. So far 43965 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 118.85 on 09-Feb-2022 and a 52 week low of Rs. 61.80 on 22-Apr-2021.
Last one week high and low of the scrip stood at Rs. 109.05 and Rs. 103.50 respectively. The current market cap of the company is Rs. 54868.15 crore.
The promoters holding in the company stood at 63.97%, while Institutions and Non-Institutions held 22.02% and 14.00% respectively.
Bank of Baroda has entered into a co-lending pact with non-banking financial company Paisalo Digital to provide small-ticket business loans to women entrepreneurs and MSMEs. The partnership will provide access to small-ticket finance for income generation to Micro, Small and Medium Enterprises (MSMEs) and women entrepreneurs.
The co-lending arrangement will leverage the bank's low cost of funds and credit assessment expertise, combined with Paisalo's rule engine-based loan origination and underwriting capabilities. This will be done with the help of an end-to-end digital platform for sourcing, servicing and recovery of small-ticket income generation priority sector loans.
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.
