Bank of Baroda is exiting from its operations in South Africa. This step is in line with the bank’s strategic plan for rationalization of overseas branches.
The business of the bank in South Africa is not very significant and the exit will not have any major impact on the financials of the bank. The bank will ensure an orderly exit in consultation with the Local Regulators.
Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services.
