M&A

M&A

Bank of Baroda to sell Oman ops to Bank Dhofar

Business Standard  

State-owned Bank of Baroda (BoB) plans to sell its operations in Oman to Bank Dhofar on a going concern basis, as part of rationalisation of foreign operations.The total business of BoB operation in Oman was 113.35 million Omani Rial while the net worth stood at 25.54 million Omani Rial.Earlier, BoB’s wholesale branch in China was closed during 2020-21, and the entire stake in the wholly-owned overseas subsidiary at Trinidad and Tobago viz. Bank of Baroda (Trinidad and Tobago) Ltd was divested by way of sale to Ansa Merchant Bank Ltd.