3 state-run banks form JV to set up Malaysian unit

3 state-run banks form JV to set up Malaysian unit
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First Published: Thu, Jun 04 2009. 03 03 PM IST
Updated: Thu, Jun 04 2009. 03 03 PM IST
Mumbai: State-owned Bank of Baroda said on Thursday its has signed a joint venture agreement with government-owned lenders Indian Overseas Bank and Andhra Bank to set up a banking subsidiary in Malaysia.
Bank of Baroda will hold 40% in the unit, while Indian Overseas Bank will hold 35% and the remainder will be held by Andhra Bank, the bank said in a statement to the Bombay Stock Exchange.
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First Published: Thu, Jun 04 2009. 03 03 PM IST