Bank of Baroda has approved divestment of 49% stake in its wholly owned credit card subsidiary BOB Financial Solutions Ltd.
The public sector bank has also approved issuance of an advertisement inviting expressions of interest from "suitable Investors/strategic partners to acquire shareholding of BOB in BFSL", according to an exchange filing.
"The details about the process of transaction and other relevant details will be published on March 10, 2023 for inviting EOI," it said.
BOB Financial Solutions is registered as a non-banking financial institution and primarily involved in credit cards and merchant acquiring businesses.
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