Canara Bank sells stake in Russian JV to SBI for ₹121 crore
Canara Bank said it has sold its stake in Russian joint venture Commercial Indo Bank LLC (CIBL) to the other venture partner State Bank of India (SBI) for about ₹121.29 crore. Incorporated in 2003, CIBL is a joint venture between SBI (60%) and Canara Bank (40%). Canara Bank said it has received the entire consideration amount on Thursday.