Home Economy Three state-run banks to set up joint Malaysian subsidiary

Three state-run banks to set up joint Malaysian subsidiary

By IANS,

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.