BoB shares climb over 3 pc after share purchase agreement with Ansa Merchant Bank

Shares of Bank of Baroda on Friday climbed over 3 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.

On the NSE, it gained 3.47 per cent to Rs 101.30.

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.