Bank of Baroda Ghana is auctioning its properties as it prepares to exit the country

The Bank of Baroda Ghana is auctioning its properties as it prepares to move out of the country.

Bank of Baroda

The auctioning is the final stage of the bank’s voluntary liquidation process, which started in December 2018.

In a public notice published in the Wednesday edition of the Daily Graphic newspaper, Bank of Baroda Ghana said it was selling its motor car, chairs, sofa set, tables, cash safe deposit vault, cash counting machine and fire extinguishers, among others.

The decision to wind up the Ghana operations is in compliance with an order from the parent company of the bank, Bank of Baroda India, the bank said in a release in December last year.

According to the notice, interested persons are to visit the bank’s branches for inspection between 9 am and 4 pm from February 20 to February 22 this year.

It further said that after the inspection, persons interested should send their quotes in sealed envelopes and submit to its branches. The bank will then check the envelope and give the items to the highest bidder.

“The sealed envelopes will be opened on February 25. The highest bidder will be advised and the items will be delivered against the payment by cash/bankers’ cheque.,” the bank said.

Bank of Baroda Ghana earlier this year provided the facts about a deal it entered with Stanbic Bank Ghana following its intention to voluntarily wind up operations in Ghana.

The takeover was done under an arrangement that comes at no cost to Stanbic Bank Ghana Limited.

The deal was sealed in the last days of December 2018 allowing for Baroda to officially wind up its Ghana operations on December 31.

The takeover meant that the customers of the Bank of Baroda were going to customers of Stanbic Bank Ghana.

However, the Stanbic Bank Ghana obviously did not take over the properties of the bank of Baroda Ghana since these properties are being sold to the public.


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