Joint Venture with Syrah Resources Ltd

13 Oct 2008 07:00

FORMING OF A JOINT VENTURE COMPANY FOR PRIVATE BANKING 

At the meeting of the Board of Directors of the Bank held today the Board of Directors approved a proposal to form an Asset Management Company (AMC) jointly with Banque Privee Edmond de Rothschild Europe (BPERE), part of the LCF Rothschild Group, to provide Investment Advisory services for Private Banking and Wealth Management in India.

The incorporation of the company will be subject to the approval of the Reserve Bank of India and other Regulatory Authorities.