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Bank Of Baroda to exit South Africa central bank

PUBLISHED: Mon, 12 Feb 2018 14:11:57 GMT

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South Africa’s Reserve Bank said on Monday, the Bank of Baroda has notified the office of the registrar of banks of its intention to exit from South Africa.

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“The Registrar, which is part of the South African Reserve Bank (SARB), is in discussions with the Bank of Baroda to ensure its orderly withdrawal from South Africa so that no depositor is disadvantaged,” the central bank said in a statement.

Reporting by Nqobile Dludla; Editing by James Macharia