Bank of Baroda closes doors to UK retail banking

After almost 70 years of operating in the UK, one of India’s largest bank is shutting up shop in the UK retail banking market. We explain everything you need to know if you have savings or a current account with Bank of Baroda

The Bank of Baroda building in Mumbai, India
(Image credit: Getty Images)

Bank of Baroda, the second largest public sector bank in India, is to close up shop in UK retail banking after 66 years of operating in the market.

The bank, which is regulated by the Financial Conduct Authority and is protected by the Financial Services Compensation Scheme, provides savings accounts and current accounts to the UK market, but has said it was now exiting the UK following a business strategy review. It will wind down Bank of Baroda UK's retail operations and close all savings and current accounts.

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Vaishali has a background in personal finance and a passion for helping people manage their finances. As a former staff writer for MoneyWeek, Vaishali covered the latest news, trends and insights on property, savings and ISAs.

She also has bylines for the U.S. personal finance site Kiplinger.com and Ideal Home, GoodTo, inews, The Week and the Leicester Mercury.