Banco Bilbao Vizcaya Argentaria (BBVA) has called off its proposed joint venture with Bank of Baroda (BOB), third largest state-run lender. BBVA considered BOB as an ideal partner but due to change of strategy within BBVA, they are unlikely to proceed further in the matter.
Earlier, the BOB and BBVA had entered into a Memorandum of Understanding (MOU) for a joint venture regarding credit card business.
BOB has reported a 21% increase in its net profit at Rs 1289.85 crore in the third quarter ended December 31, 2011 compared with Rs 1068.80 crore in the year-ago period. The total income rose by 39.09% to Rs 8821.32 crore in the quarter under review against Rs 6342.30 crore during the corresponding quarter of the earlier fiscal.
Company Name | CMP |
---|---|
SBI | 829.90 |
Bank Of Baroda | 268.85 |
PNB | 126.50 |
Canara Bank | 117.65 |
Union Bank Of India | 152.25 |
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