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Bank of Baroda to close 2 overseas units

Bank of Baroda may sell its subsidiaries in Ghana and Trinidad and Tobago, as part of its strategy to rationalize international operations. The bank is understood to have floated an RFP for the purpose. The two subsidiaries have total business worth less than Rs 10 billion. The 2 entities – Bank of Baroda (Ghana) and Bank of Baroda (Trinidad and Tobago) – operate retail branches. The bank finds that these subsidiaries are not performing as per expectations and hence the decision to sell them. The bank had earlier closed its Bahrain and Nasau branches and is now in the process of closing the Bahamas branch.

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