Bank of Baroda officially becomes Ansa Bank

THE Bank of Baroda is no more as it officially became Ansa Bank on Monday with new signage.

Baroda, an Indian state-owned financial services group, began operating in TT in October, 2007. But in 2019, Ansa Merchant – a member of the Ansa McAl Group – signed a share purchase agreement for 100 per cent interest in Bank of Baroda TT Ltd.

Ansa Bank is a subsidiary of the Ansa Merchant Bank group, which also includes the general and life insurance companies, Tatil and Tatil Life.

The new signs were officially unveiled at its San Fernando, Chaguanas and Port of Spain branches over the holiday weekend.

In a release, the company said that within the next year and three months, it will be “investing heavily in technology and artificial intelligent systems as it moves to become TT’s first fully-integrated, digital bank.

“The bank has set its bar high. Its goal is to offer customised financing to large corporations whilst meeting the needs of medium, small, and micro-enterprises. Individual homeowners and entrepreneurial Trinbagonians will also be catered for in an energetic, progressive environment.”

The bank’s chairman is David Dulal-Whiteway and its managing director is former public utilities minister Robert Le Hunte. Both men have over 30 years of local, regional and international banking experience.

Dulal-Whiteway said the company’s goal is to create a highly responsive retail bank filled with innovative financial solutions.

“…Where our customers find innovative financial solutions suited to their lives in an easy and seamless manner.

“They will enjoy digital ease-of-doing-business and products that are in line with international levels. We have seen how the importance of these fundamentals have been magnified due to the pandemic.”

Le Hunte shared similar sentiments saying the bank’s flexibility will allow it to “delve into areas where our competitors may not.

“International institutions are leaving the region and others are contemplating doing so or have reduced their footprint. We, on the other hand, are putting down even deeper roots and widening our reach. It signifies the group’s long-term confidence in the economy of TT and our desire to be of service to citizens in every area of their lives.”

The bank’s first day of business under the ownership of Ansa Merchant Bank was on March 1