Bank of Baroda, Union Bank, Indian Overseas Bank Get $73.48 Million from IIBMB Liquidation

On December 19, 2025, public sector lenders Bank of Baroda, Union Bank of India and Indian Overseas Bank received interim capital repatriation totalling $73.48 million (around ₹610 crore) following the Member’s Voluntary Liquidation of India International Bank Malaysia (IIBMB). 

Bank of Baroda Gets Largest Share with 40% Stake 

Bank of Baroda, which held a 40% stake in the now-liquidated IIBMB, received the largest portion among the three banks. It confirmed having received $29,391,204.52 as part of the interim distribution of capital repatriation.  

This transaction marks one of the key steps towards winding up the bank’s overseas joint venture operations in Malaysia. 

Union Bank of India Receives $18.37 Million 

Union Bank of India received $18,369,485.95 from the liquidator. The bank held a 25% ownership share in IIBMB.  

This capital repatriation represents its proportionate return on investment from the joint venture following its dissolution under the Member’s Voluntary Liquidation process. 

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Indian Overseas Bank Gets $25.71 Million 

Indian Overseas Bank, with a 35% stake in IIBMB, received a capital repatriation of $25,717,298.33.  

This transaction concludes a significant portion of the interim distribution process from the liquidator to the Indian state-run partners of the joint venture. 

Details on India International Bank Malaysia 

IIBMB was initially launched as a joint venture of these 3 Indian public sector banks to operate in Malaysia. The voluntary liquidation of the venture has led to a proportionate distribution of the remaining capital back to its stakeholders based on their shareholding in the company. 

Conclusion 

The interim distribution amounting to $73.48 million has been successfully repatriated among Bank of Baroda, Union Bank of India and Indian Overseas Bank as per their respective stakes, following the voluntary liquidation of India International Bank Malaysia. 

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