Corporation Bank to consider UWB take over tmrw

New Delhi, Sep 6: Corporation Bank today announced that its board will meet tomorrow to discuss taking over United Western Bank (UWB) placed under moratorium.

''A meeting of the board will be held on September 7, 2006, to discuss opportunities for submitting Expression of Interest to Reserve Bank of India for taking over The United Western Bank Ltd, subject to regulatory, statutory and other approvals,'' a bank statement said.

Following the public, private and foreign banks, Maharashtra government also joined the race yesterday through its nodal investment body SICOM.

SICOM holds about 10 per cent equity of UWB.

The board of UWB had meanwhile submitted a reconstruction scheme to the RBI.

Among others, who joined the list of interested parties, were ICICI Bank, Canara Bank, Andhra Bank, Standard Chartered Bank, Federal Bank, Allahabad Bank and Citigroup.

UNI