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Guptas said to have found alternative after Bank of Baroda snub

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Johannesburg - The Gupta family, whose accounts are being closed down by the Bank of Baroda’s South African unit, have told the Indian lender that they’ve found another company willing to offer them banking services, according to a person familiar with the matter.

The Bank of Baroda, which took on the Guptas after South Africa’s four biggest lenders closed their accounts, have given the family’s businesses two extra months to transfer their accounts to the new bank, the person said, declining to name the institution and asking not to be identified because the details are confidential.

The family’s businesses have paid back most of their loans from Bank of Baroda, the person said.

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