News From Press PNB to exit Canara HSBC Oriental Bank Life

PNB to exit Canara HSBC Oriental Bank Life

Bank will divest stake at an ‘appropriate time, depending on market conditions’

Source:BusinessLine May 31, 2021

Punjab National Bank (PNB), the country’s second largest public sector bank, intends to divest its shareholding in Canara HSBC OBC Life Insurance Co Ltd, a life insurer that started its journey in 2008.

Post the amalgamation with Oriental Bank of Commerce (OBC) from April 1 last year, PNB had become promoter-shareholder, with 23 per cent stake in Canara HSBC OBC Life Insurance.

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