BoB to scout for third partner for insurance JV

MUMBAI, MARCH 20. Bank of Baroda (BoB) will scout for a third partner for its insurance joint venture even as the bank is looking at bringing down its non-performing assets (NPAs).

``We will hold 50 per cent stake and the balance will go to other two partners in our insurance venture", BoB chairman and managing director, Mr. P. S. Shenoy, told newspersons after launching `Omnbibob' here today. The bank was talking to several players, including financial institutions and other banks in this regard, he added.

The bank launched three products - Anybob, Dialbob and Connectbob - under the umbrella brand of `Ombibob'. These services would now available at over 250 branches in India. Omnibob was already operational in Ahmedabad, Chennai, Pune, Hyderabad, Delhi and Bangalore.

- PTI

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