BoB signs share purchase agreement to sell Trinidad & Tobago business

Topics Bank of Baroda

As part of rationalising its international operations, state-owned Bank of Baroda Thursday signed a share purchase agreement with Ansa Merchant Bank to sell the business of Bank of Baroda Trinidad & Tobago.

BoB Trinidad & Tobago started its operations in October 2007 as a wholly-owned overseas subsidiary.

"We have had a long and successful tenure in Trinidad & Tobago and will look forward to a disruption-free service to our valued customers of in that market," executive director Murali Ramaswami, said in a statement.

The sale will need an approval from Central Bank of Trinidad & Tobago.

BoB had decided to exit the business way back in May 2017.



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