Joint Venture19 Dec 2025, 09:11 pm
Union Bank of India Receives USD 18.37 Million from Liquidator of Joint Venture IIBMB
AI Summary
Union Bank of India has received an amount of USD 18,369,485.95 from the liquidator towards the interim distribution of capital repatriation on account of Member’s Voluntary Liquidation (MVL) of India International Bank Malaysia (IIBMB). IIBMB is a Joint Venture of three banks, namely Bank of Baroda, Union Bank of India, and Indian Overseas Bank, with Union Bank of India holding a 25% share. This information is shared in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Highlights
- Union Bank of India received USD 18.37 million from the liquidator of India International Bank Malaysia (IIBMB)
- IIBMB is a Joint Venture of three banks, including Union Bank of India
- The amount received is towards the interim distribution of capital repatriation on account of Member’s Voluntary Liquidation (MVL) of IIBMB
- Union Bank of India holds a 25% share in IIBMB
- Disclosure made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015