Bank of Baroda gains over 4% after share purchase pact with Ansa Merchant Bank, to sell lender's Trinidad & Tobago business

  • On the BSE, the stock settled 3.93% higher at Rs 101.75 and during intra-day, it rose 4.29% to hit a high of Rs 102.10

  • In terms of volume, 17.29 lakh shares of the company were traded on the BSE, while over 3.4 crore units changed hands on the NSE

  • Bank of Baroda Trinidad & Tobago started its operations in October 2007 as a wholly-owned overseas subsidiary

New Delhi: Shares of Bank of Baroda (BoB) on Friday advanced by over 4 percent after the company signed a share purchase agreement with Ansa Merchant Bank to sell the business of Bank of Baroda Trinidad & Tobago.

 Bank of Baroda gains over 4% after share purchase pact with Ansa Merchant Bank, to sell lenders Trinidad & Tobago business

Representational image. Reuters.

On the BSE, the stock settled 3.93 percent higher at Rs 101.75. Intra-day, it rose 4.29 percent to hit a high of Rs 102.10.

On the NSE, the stock rose 4.14 percent to end at Rs 101.95. During the day, it gained 4.34 percent to Rs 102.15.

In terms of volume, 17.29 lakh shares of the company were traded on the BSE, while over 3.4 crore units changed hands on the NSE.

Bank of Baroda 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 the Central Bank of Trinidad & Tobago.

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

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Updated Date: Dec 13, 2019 17:47:55 IST