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Bank of India aims to raise funds from exiting life insurance arm Star Union

21 Dec 2018 Evaluate

Bank of India (BoI) is aiming to raise Rs 1,000-1,200 crore by offloading its entire 28.96% stake in life insurance joint venture (JV), Star Union Dai-Ichi Life Insurance.

Star Union Dai-ichi Life Insurance, which commenced operations in February 2009, is a JV between Bank of India, Union Bank of India and the Japanese major Dai-ichi Life Insurance Company. The bank owns 28.96% in the JV, Union Bank of India holds 25.10%, and Dai-chi is the single largest shareholder with 45.94% stake.

BoI offers wide range of services such as Personal banking, Corporate, Rural, MSME, Retail, NRI services, Cards/ATM etc.

Peers
Company Name CMP
State Bank Of India 969.55
PNB 120.35
Bank Of Baroda 243.50
Canara Bank 117.60
Union Bank Of India 183.00
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