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Bank of Baroda said to consider cutting insurance firm stake

Bank of Baroda said to consider cutting insurance firm stake

Thursday, March 23, 2017, 7:33 AM

Bank of Baroda, India’s third-largest state-run bank by assets, is considering a sale of some of the minority stakes it holds in its insurance and asset-management ventures, according to people familiar with the matter. The Mumbai-based bank is seeking to pare its 44% stake in IndiaFirst Life Insurance Co. and the 49% stake in Baroda Pioneer Asset Management Co.
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