Liquidation of overseas JV: BoB, IoB and UBoI collectively receive $73.4 million

Bank of Baroda (BoB), Indian Overseas Bank (IoB), and Union Bank of India (UBoI) received capital distributions totaling $29.39 million, $25.71 million, and $18.36 million respectively. These payments originated from the liquidator during interim capital repatriation proceedings for the Member’s Voluntary Liquidation of India International Bank (Malaysia) Bhd (IIBMB).

IIBMB operated as a joint venture between the three public sector banks, with ownership stakes distributed as follows: BoB (40%), IoB (35%), and UBoI (25%).

In equivalent Indian rupee values, the payments amounted to approximately ₹264 crore for BoB, ₹231 crore for IoB, and ₹165 crore for UBoI.

Published on December 20, 2025