Bank of Baroda shares climb over 3% after share purchase agreement with Ansa Merchant Bank

  • The scrip jumped 3.42 percent to Rs 101.25 on the BSE

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

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

New Delhi: Shares of Bank of Baroda on Friday climbed over 3 percent after the company signed a share purchase agreement with Ansa Merchant Bank to sell the business of Bank of Baroda Trinidad & Tobago.

The scrip jumped 3.42 percent to Rs 101.25 on the BSE.

On the NSE, it gained 3.47 percent to Rs 101.30.

 Bank of Baroda shares climb over 3% after share purchase agreement with Ansa Merchant Bank

Representative image. Reuters

Bank of Baroda (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 approval from 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 13:30:09 IST