Three state-run banks to set up joint Malaysian subsidiary
By IANSThursday, June 4, 2009
MUMBAI - 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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