As on (29 Mar 2023 | 17:52)
State Bank of India to acquire balance stake in Commercial Indo Bank LLC, Moscow Back
(21 Jan 2023)
State Bank of India has entered into an agreement dated 15 November 2022 in relation to purchase of 40% stake in Commercial Indo Bank LLC (CIBL), Moscow held by Canara Bank.

CIBL is a joint venture of State Bank of India and Canara Bank in 60:40 ratio.

The cash consideration for the transaction is equivalent to USD 14.67 million.

Post acquisition, State Bank of India will hold 100% stake in CIBL.