Decision to close Al Ain branch in UAE taken last year: Bank of Baroda

 

The statement comes after a photo on social media claimed that crowds are queuing up at the bank’s Al Ain Branch to close their accounts after its CEO Sanjiv Chadha’s statement that the bank will continue to fund the Adani enterprises. 

By India Today Business Desk: The Bank of Baroda (BoB) clarified that the bank took a commercial decision to close its Al Ain branch in UAE from March 22, 2023, following the Central Bank of UAE’s nod.

The statement comes after a photo on social media claimed that crowds are queuing up at the bank’s Al Ain Branch to close their accounts after its CEO Sanjiv Chadha’s statement that the bank will continue to fund the Adani enterprises. The bank appealed to the public not to believe in ‘misleading and false information’ on social media. 

The lender, in a statement, said that the decision to close the branch was taken last year. “To ensure the smooth continuation of services, all accounts currently maintained at the Al Ain branch are being transferred to the Bank's Abu Dhabi branch in UAE," BoB’s statement read.

The bank further said that customers who wish to close their accounts can do so before March 22 without incurring any charges or penalties. "Customers are accordingly visiting the Al Ain branch to provide the necessary consent/ give further instructions with regard to their account/s in Al Ain branch," the bank said. 

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