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Andhra Bank to merge housing arm

Our Bureau

HYDERABAD: Andhra Bank proposes to merge its housing finance subsidiary - Andhra Bank Housing Finance Ltd.

As a part of this exercise, the bank plans to enhance its holding in the housing finance subsidiary by way of acquiring the shareholding of other equity participants at a valuation to be done by individual valuers.

A proposal to this effect would be considered by the bank at its ensuing board meeting, according to a communiqué to the stock exchanges.

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