Canara Bank to sell 49pc stake in asset management

New Delhi, Mar 19: Canara Bank today said it will divest 49 per cent stake in its wholly-owned asset management subsidiary Canbank Investment Management Services Ltd (CIMS) to Robeco Group NV, Netherlands.

The bank will sell 49 per cent of its stake in CIMS in favour of Robeco Group NV to form a joint venture, it said in a statement.

Canara Bank will sign a Memorandum of Understanding (MoU) with the Netherlands' company here today.

UNI