Nainital Bank Limited is one of India’s oldest regional private sector banks — operating primarily in Uttarakhand, Uttar Pradesh, and Delhi since 1922. A subsidiary of Bank of Baroda (one of India’s largest public sector banks), Nainital Bank maintains its independent identity while benefiting from the backing of its PSU parent.
| Full Name | The Nainital Bank Limited |
| Founded | 1922 — Nainital, Uttarakhand (then United Provinces) |
| Parent / Majority Owner | Bank of Baroda — ~98.57% |
| Headquarters | Nainital, Uttarakhand, India |
| Primary Area | Uttarakhand, Uttar Pradesh, Delhi |
| Branches | ~170+ branches across North India |
| Listed | Not listed (unlisted subsidiary of Bank of Baroda) |
Who Owns Nainital Bank?
Nainital Bank is overwhelmingly owned by Bank of Baroda (BoB) — one of India’s largest public sector banks — which holds approximately 98.57% of Nainital Bank’s shares. Bank of Baroda is itself majority-owned by the Government of India (through the Ministry of Finance), making Nainital Bank effectively a government-backed institution operating as a regional private sector bank. The remaining fractional shareholding (~1.43%) is held by private shareholders from the original pre-acquisition period. Bank of Baroda acquired its controlling stake in Nainital Bank in 1973. Nainital Bank continues to operate independently under its own brand, management, and regional identity rather than being merged into BoB.
History of Nainital Bank
Nainital Bank was founded in 1922 in Nainital — then a prominent hill station under British administration in the United Provinces. It served local traders, tea garden owners, and government employees in the Kumaon region. After nationalisation policies reshaped Indian banking in the 1970s, Bank of Baroda acquired majority control of Nainital Bank in 1973. The bank has since grown its branch network across Uttarakhand and neighbouring states, offering retail banking, agriculture loans, MSME finance, and government scheme disbursements. It is a Schedule A Commercial Bank under RBI regulations.
