State Bank Of India

State Bank of India (SBI) has completed acquisition of 40% stake in Commercial Indo Bank LLC (CIBL) Moscow from Canara Bank.  The entire purchase consideration equivalent to Rs 121.29 crore has been remitted to Canara Bank On March 23, 2023. Earlier in November 2022, the bank had entered into an agreement in relation to purchase of 40% stake in CIBL.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.