Andhra Bank plans to sell stake in 3 arms

The board of Andhra Bank has approved a proposal to divest its stake in full or in part in joint venture investments such as ASREC lndia, lndia lnternational Bank (Malaysia) Bhd and lndiaFirst Life lnsurance Co. Andhra Bank holds 26.02 per cent stake in In ASREC India; 25 per cent stake in lndia lnternational Bank (Malaysia), and 30 per cent stake in lndiaFirst Life lnsurance. Shareholders of the bank will closely monitor the divestment process and other related issues.