Bank of Baroda said it has received $29,391,204.52 from the liquidator towards the interim distribution of capital repatriation. IIBMB was a joint venture of Bank of Baroda, Union Bank of India and Indian Overseas Bank, with Bank of Baroda holding a 40% stake.
Union Bank of India informed that it has received $18,369,485.95 from the liquidator as part of the interim distribution of capital repatriation arising from the Member’s Voluntary Liquidation of IIBMB. Union Bank of India holds a 25% share in the joint venture.
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Indian Overseas Bank stated that it has received $25,717,298.33 from the liquidator towards interim capital repatriation on account of the Member’s Voluntary Liquidation of India International Bank (Malaysia) Bhd. Indian Overseas Bank held a 35% stake in the joint venture.
IIBMB was a joint venture of the three public sector banks — Bank of Baroda, Union Bank of India and Indian Overseas Bank.
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