Three state-run banks to set up joint Malaysian subsidiary

June 4th, 2009 - 4:47 pm ICT by IANS  

Mumbai, June 4 (IANS) Bank of Baroda, Indian Overseas Bank and Andhra Bank will set up a joint subsidiary in Malaysia, it was announced Thursday.
“The subsidiary is proposed to be named as India BIA Bank (Malaysia) Bhd,” Bank of Baroda said in a regulatory statement.

“The shareholding pattern would be Bank of Baroda 40 percent, Indian Overseas Bank 35 percent and Andhra Bank 25 percent,” the statement said.

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