Bank of Baroda auctions chairs, water dispenser after liquidation

Graphic Online Business News Feb - 20 - 2019 , 16:06

The Ghana unit of India state-owned lender, Bank of Baroda is auctioning its properties that include chairs and water dispenser as it prepares to finally pack out of Ghana.

The auction is believed to be the final leg of the bank’s liquidation process, which started in December 2018.

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.

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, waiting chairs, sofa set, tables, cash safe deposit vault, cash counting machine and fire extinguishers, among others.

The notice asked interested persons to visit its branches for inspection between 9am and 4pm from February 20 to February 22.

It said those interested should send the quotes in sealed envelopes and submit to its branches.

“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 started its liquidation process in December last year in which it successfully transferred its customers to Stanbic Bank Ghana Limited under a seamless arrangement that cost nothing.

It is not clear how the bank’s loans and advances, which are assets, were treated.