An important update regarding Bank of Baroda (UK) Limited
Bank of Baroda (UK) Limited (the Bank) is winding down and closing its operations in the UK. The Bank and the Group have decided to exit its UK retail banking business over time. The closure of Bank of Baroda (UK) Limited will not impact any products offered by Bank of Baroda (India) or the activities of its London wholesale banking branch.
In consultation with the UK Banking Regulators i.e. Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), the Bank initiated the Solvent Wind Down of its business in July 2023. Accordingly, the Bank closed all savings and current accounts in January 2024 and all fixed term deposit accounts in November 2024. In doing so, the Bank wrote to all the customers and requested them to transfer the closing balance of their Bank accounts to their accounts held with another Bank. Any remaining loan accounts will be unaffected.
For any customers that have yet to reclaim their funds, we wrote to them on 7 November 2025, and in the subsequent communication they received a letter from Law Debenture Trust Corporation PLC. (the Trustees) on 8 December 2025, informing them the amount equal to the money from their closed account/(s) have been placed with the Trustees under the terms of the Trust.
Bank of Baroda (UK) Ltd can now confirm that the funds have been placed with the Trustees, Law Debenture Trust Corporation PLC, who will be responsible for managing all future funds reclaim, requests, and payments relating to those funds.Next Steps
An amount equal to funds from the closed accounts have now been placed with The Law Debenture Trust Corporation PLC (the Trustee) and will be held in Trust with effect from 12th January 2026. This allows the Bank to progress with its orderly wind down and closure whilst ensuring that unclaimed funds continue to remain secure and available to be reclaimed.
The Trust has been set up in accordance with the legal requirements and regulatory guidelines in the UK and in consultation with the UK banking regulators i.e., the PRA and the FCA.
We have written to all customers with unclaimed funds setting out how the unclaimed funds will be held (including details regarding FSCS protection) and how to reclaim them
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You can find more information on Customer Notification & FAQs or please feel free to contact us as follows:
Customer Service Centre on 0333 155 3333
Email us at customercare.uksub@bankofbaroda.com