Bank of Baroda to withdraw from SA

The Reserve Bank has received notification from the Bank of Baroda of its exit from South Africa.

The Indian state-owned international banking and financial services company, notified the Office of the Registrar of Banks of its exit from South Africa.

“The Registrar, which is part of the South African Reserve Bank is in discussions with the Bank of Baroda to ensure its orderly withdrawal from South Africa so that no depositor is disadvantaged. At this stage, the SARB has no further comments on the matter,” said the central bank on Monday. -SAnews.gov.za