Andhra Bank Board Meeting approves proposal for takeover of United Western Bank

Andhra Bank has announced that the Board of Directors of the Bank at its meeting held on September 04, 2006 has approved the Bank´s proposal for submission of expression of interest to the Reserve Bank of India for amalgamation of the United Western Bank Ltd., Satara with the Bank, Hyderabad. The final approval is subject to obtaining of necessary regulatory, statutory and other approvals at appropriate levels after a through due diligence by the Bank.

Source : Equity Bulls

Keywords