State Bank of India (NSEI:SBIN) entered into an agreement to acquire remaining 40% stake in Commercial Indo Bank" LLC from Canara Bank (NSEI:CANBK) for $14.7 million on November 15, 2022. Commercial Indo Bank generated profit of $1.2 million in 2022. The transaction is expected to close on March 31, 2023.

State Bank of India (NSEI:SBIN) completed the acquisition of remaining 40% stake in Commercial Indo Bank" LLC from Canara Bank (NSEI:CANBK) on March 23, 2023. consideration amount equivalent to $14.7 million has been received.