BoB climbs 4% after share purchase agreement with Ansa Merchant Bank

Shares of Bank of Baroda on Friday climbed 4 per cent 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 per cent 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.

"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 Central Bank of Trinidad & Tobago.

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

The shares of the company closed 3.93 per cent higher at Rs 101.75 on BSE.