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Oriental Bank of Commerce (OBC) has no immediate plans to sell or raise its stake in its life insurance joint venture Canara HSBC Oriental Bank of Commerce Life Insurance Company (CHOICE), Animesh Chauhan, Managing Director and CEO, said.
Currently, OBC has a 23 per cent stake in CHOICE. While Canara Bank has 51 per cent stake, HSBC has 26 per cent shareholding in the life insurance joint venture, which started its journey in June 2008.
“There is no question of selling or altering our stake now. The life insurance joint venture company is doing well and in line with our expectations,” Chauhan told BusinessLine .
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