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IOB mulls foray into non-life insurance with Allahabad Bank: May rope in other banks, foreign partner.
(From Business Line)
from BUSINESS LINE, October 29, 2005 Chennai, Oct. 28 - INDIAN Overseas Bank is seriously considering getting into non-life insurance business jointly with Allahabad Bank. It hopes to rope in a couple of other banks and a foreign partner into this venture
The bank believes there is a good business opportunity for it considering its asset base and the amount of insurance business it provides to other public sector non-life insurance companies
Mr T.S. Narayanasami, Chairman and Managing Director, IOB, said the bank was looking at this option and would put forward a proposal to its board for consideration. IOB, Allahabad Bank and …
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