Bank of Baroda divests its holding in Cibil to TransUnion

Bank of Baroda, one of India’s leading public-sector banks, has exited its investment by selling five percent stake in Cibil to global credit information company TransUnion. The bank had earlier guided its intentions to sell stakes in non-core assets in the aftermath of RBI’s asset quality review, which led to erosion of profits.

After this transaction, the remaining shareholders in Cibil are Indian Overseas Bank (5%), Union Bank of India (5%), Bank of India (5%), Aditya Birla Trustee Company (4%), India Alternatives Private Equity (2.9%) and India Infoline Finance (1%).

Cibil, which began operations in August 2000, was formed as a joint venture between banks and TransUnion.