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Mergers & Acquisitions | 5 June 2012

Zoroastrian Cooperative Bank Acquires Surat Based City Cooperative Bank

by Ahemad Shaikh
Zoroastrian Cooperative Bank Acquires Surat Based City Cooperative Bank
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@ahemad
Mumbai based - Zoroastrian Co-operative Bank Limited has acquired Surat based – City Cooperative Bank Limited.

With this acquisition, Zoroastrian Bank will now add a further six branches in Surat of City Cooperative Bank to its present network of twelve branches in Mumbai and Pune.

According to BS, Zoroastrian Co-operative Bank has acquired 100% holding of the City Cooperative Bank, along with its cumulative loss of R7.5Cr.

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