Banks queue up for taking over United Western Bank

Several banks have queued up to take over United Western Bank which has been put under moratorium by the Reserve Bank of India. Several Banks including ICICI Bank, Andhra Bank, Federal Bank, Canara Bank have expressed their intent to acquire the failed private bank with a big presence in the state of Maharashtra.

The state owned SICOM which has a 10% stake in the bank might also consider taking over the bank. After a slew of forced mergers, this bank has evoked interest from different quarters due to its presence in huge market of Maharashtra.

Source : Equity Bulls

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