Malaysian JV to go on stream soon

Updated: Feb 1 2009, 03:56am hrs
The joint venture between Indian Overseas Bank, Bank of Baroda (BoB) and Andhra Bank in Malaysia will to go on stream soon, with the Malaysian government expected to give a green signal in the near future.

All three banks have agreed to float a JV with a capital base of $100 million to float branches in Malaysia. While BoB holds 40% in the JV, IOB and Andhra Bank hold 35% and 25% respectively, Bhat said.