February 12, 2018 / 12:58 PM / 7 months ago

BRIEF-Bank Of Baroda Ltd Announces Closure Of Banking Operations In South Africa‍​

Feb 12 (Reuters) - Bank Of Baroda Ltd:

* CLOSURE OF BANKING OPERATIONS IN SOUTH AFRICA‍​

* S. AFRICA BRANCH TO STOP TAKING NEW / INCREMENTAL DEPOSITS, DISBURSING LOANS WITH EFFECT FROM 1ST MARCH 2018

* IN VIEW OF BANK’S STRATEGIC PLAN FOR RATIONALIZATION OF BRANCHES IN INTERNATIONAL MARKETS, DECIDED TO CEASE THE BANKING OPERATIONS IN SA TERRITORY‍​

* SOUTH AFRICA BRANCH WILL CEASE TO OPERATE AND CONDUCT THE BUSINESS OF A BANK WITH EFFECT FROM 31ST MARCH 2018‍​ Source text (bit.ly/2EoHvCg) Further company coverage: (bangalore.newsroom@thomsonreuters.com)

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