Business - Briefly   

SBI to pay $8 m for bank buyout

MUMBAI, FEB. 7. State Bank of India will pay about $8 million for acquisition of 51 per cent stake in Indian Ocean International Bank Ltd (IOIB), a Maruritian bank, and intergrate it with SBI's international business to focus on the retail segment, the SBI Chairman, A. K. Purwar, told reporters on the sidelines of a telecom seminar organised by the Indian Merchants' Chamber today.

Printer friendly page  
Send this article to Friends by E-Mail

Business

News: Front Page | National | Tamil Nadu | Andhra Pradesh | Karnataka | Kerala | New Delhi | Other States | International | Opinion | Business | Sport | Miscellaneous | Engagements |
Advts: Classifieds | Employment | Updates: Breaking News |

Stories in this Section

Economy to grow at 6.9 p.c. in 2004-05
India, Finland to step up bilateral trade
Merger of cooperative banks on anvil
HDFC Bank, NAFED join hands
Abhilash Chemicals to produce bulk drugs
NBFCs asked to create floating charge
Rupee loses further ground
Sensex drops 83 points on profit taking
Airbus eyeing Indian market
Imports of sensitive items decline
United Bank chases post office rates
South Africa to partner engineering fair
Chamber wants lower PLR
Exchange rates
Bullion rates
TAKE Solutions acquires 4Bsoft
SBI to pay $8 m for bank buyout
Gokaldas Exports' IPO
Jaiprakash files draft prospectus
Punj Lloyd raises $50 million
DRL starts clinical trial of cardiovascular drug
PNB completes computerisation of branches
Wipro Tech ranks in `fast followers' category
International Chemtech World Expo 2005

Copyright © 2005, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu