Bank of Baroda and BNP Paribas formed a joint venture.

Bank of Baroda, an Indian nationalized banking and financial services company, and BNP Paribas, a financial services group in Europe with global reach, formed a joint venture. Financial terms were not disclosed. "This is thecoming together of two financial powerhouses who complement each other with the strengths that theybring to the table, creating a more potent combined entity. BNP Paribas Asset Management is a leadingglobal asset manager, backed by BNP Paribas, and the JV will leverage their global experience, expertiseand processes to build a stronger asset management platform offering high-quality investment solutionsat scale. We have a tremendous opportunity before us in the Indian asset management space andI amexcited about the journey ahead," Sanjiv Chadha, Bank of Baroda Managing Director and CEO.