Bank of Baroda is selling its subsidiary Bank of Baroda (Trinidad and Tobago) and it has signed a binding share purchase agreement for this purpose with ANSA Merchant Bank. The sale is, however, subject to approval of the Central Bank of Trinidad and Tobago. Bank of Baroda (Trinidad and Tobago) started its operations in October 2007. Bank of Baroda said its board had approved the sale of the subsidiary in 2017 as part of its plan to rationalize international operations. ANSA Merchant Bank was identified as the potential buyer after a due diligence, conducted by investment banker BOBCAPS. According to a spokesperson of the bank, the bank had a long and successful tenure in Trinidad and Tobago and will look forward to a disruption-free service to the valued customers of the bank. Port of Spain, Trinidad-based ANSA Merchant Bank is into auto financing, asset finance, investment services, merchant banking, and treasury services.
