The decision was in terms of the direction issued by the Central Bank as the key business activities of the travel subsidiary does not fall within the purview of the Banking Act.

As a subsidiary of BOC, B.O.C. Travels (Private) Limited has been operating independently from the primary banking activities defined by the Banking Act.

This decision is part of BOC's broader strategy to streamline its operations and focus more on its core banking activities.

The divestment process will be conducted in accordance with regulatory guidelines and is expected to attract interest from potential investors in the travel industry.