Bharat Overseas Bank Ltd.

From Wikipedia, the free encyclopedia

Bharat Overseas Bank is a private bank based in Chennai, India. It was established in order to take over for the Bangkok branch of the Indian Overseas Bank. It is one of the few private banks that the Reserve Bank of India permits to have a branch outside of India, and is the only bank representing India in Thailand. It was owned by seven banks (initial ownership figures in parentheses): Indian Overseas Bank (30%), Bank of Rajasthan (16%), Vyasa Bank (14.66%), Karur Vyasa Bank (10%), Federal Bank (19.67%), South Indian Bank (10%), and Karnataka Bank(8.67%), but in 2007 Indian Overseas Bank fully acquired the bank.^[1]

[edit] External links

• Bharat Overseas Bank Official web site

[edit] References

1. ^ "Banks: Consolidation the buzzword", Equitymaster, Rediff.com, 2004-12-25. 

[edit] Further reading

• Our Bureau. "Bharat Overseas Bank to raise Rs 100 cr through IPO in October", The Hindu Business Line, 2005-07-19. 
• "Bharat Overseas IPO plan flounders", Moneycontrol, 2005-11-17. 
• "IOB, Bharat Overseas to merge", The Economic Times, Times Internet Limited, 2005-12-26. 
• BS Banking Bureau. "IOB set to take over Bharat Overseas Bank", Business Standard, Mumbai: Rediff.com India Limited, 2006-01-28. 
• The Hindu. "IOB retrieves Bangkok branch of Bharat Overseas Bank", Business Standard, Chennai: Thaindian.com, 2006-03-11.