Remarks by Mr. R. K. Bhatia, High Commissioner of India at the inauguration of Johannesburg Branch of Bank of Baroda (August 7, 2007) Dr. Anil Khandelwal, Chairman-cum-Managing Director, Bank of Baroda Shri S.K. Chakrabarti, Chief Executive Officer, Bank of Baroda Distinguished invitees, Ladies and Gentlemen, It gives me great pleasure to be present amidst you today when the esteemed Bank of Baroda reaches yet another milestone. The Bank, which has conducted its operations in South Africa through its branch in Durban since August 13, 1997, is now ready to open its second branch here on this auspicious day. 2. It is significant to note that the Johannesburg branch becomes operational during the 100th year of the bank’s operations in India and worldwide. Indeed, it has been a long journey for the Bank of Baroda, which marks its transformation from a small local bank to a successful international bank. Not only the bank has expanded its mix of products and services, it has also continued the tradition of innovations. Besides, it has played a significant role in the development of small and medium enterprises. 3. We are indeed impressed by the commitments and vision of the bank’s leadership. As it said in one of its latest messages to the public in India: ‘Together we can set new benchmarks for abiding relationships and a century from now, we shall once again salute you.’ 4. We believe that this is a significant message not only for 29 million customers in India but also for the bank’s customers who patronize 62 overseas offices/branches in 21 countries around the world. 5. The importance of this day, of course, goes beyond the confines of the Bank of Baroda. This event today marks a welcome day for India’s banking industry in South Africa. Along with the presence in South Africa of the State Bank of India, ICICI, Bank of India and EXIM bank, the expansion of Bank of Baroda will be valuable in contributing to further deepening of India-South Africa relations. By the same token, we note happily that one South African bank i.e FNB is now already in India and that others are trying to follow suit. As the dialogue at the last week’s ‘India Calling 2007’, organized by Indian Merchants’ Chamber and Business Unity South Africa showed, immense potential exists for cooperation between the two countries in the banking and financial sector. 6. Clearly, with the on-going diversification of the banking industry in the two countries, the stage will be better set for a whole array of transactions involving trade, joint ventures, investment flows and technology tie-ups. Our two countries are determined to work harder to take the economic relationship to a new level of strength. We are convinced that, in this context, the Johannesburg branch of Bank of Baroda will make a noteworthy contribution to our shared goal. 7. May I congratulate the leadership of the Bank of Baroda for its achievements and convey our sincere good wishes for its continuing and enhanced success in future. 8. Dear friends, I am happy to announce that the Johannesburg branch of the Bank of Baroda now stands inaugurated.