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Bank of Baroda to Sell Nainital Bank

January 15, 2018

Bank of Baroda to Sell Nainital Bank

India’s fourth-largest public sector lender, Bank of Baroda (BoB), is planning to sell Nainital Bank Ltd. in an effort towards the improvement of its balance sheet.
Sources said the size of the stake of Nainital Bank that will be sold, depends on the approvals from the RBI.
BoB has 98.6% stake in the Nainital Bank, which has total assets worth Rs. 77 billion with 127 branches across India. The decision of its sale comes in as a part of the BoB’s plan to sell the non-core assets.

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