To leverage its record for loan syndication and technology, Chennai-based Indian Overseas Bank (IOB) is thinking about a coalition with other banking institutions.
SA Bhat, chairman and managing director, said, “I have approached some banks but it is still in the formation stage. We are looking at banks with a business size of Rs 50,000-1,00,000 crore with reach in states like Gujarat and Maharashtra where we don't have that many branches.”