14 February 2018

Bank of Baroda to Exit South Africa by March-End

Bank of Baroda to Exit South Africa by March-End


State-owned Bank of Baroda has decided to exit by March-end its South Africa operations after 21 years amid a probe into alleged compliance lapses by the bank there.

The bank stated that it is exiting operations in South Africa as part of its strategic plan for rationalisation of overseas branches.

Static/Current Takeaways Important for Syndicate Bank PO 2018 Exam-
  • Bank of Baroda Chairman- Ravi Venkatesan, Managing Director & CEO- P.S.Jayakumar.
  • Of the total 5,558 branches, the Baroda (Gujarat) headquartered bank has 107 overseas branches.

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