India: State-owned Bank of Baroda to merge MF arm with BNP Paribas AMC

India: State-owned Bank of Baroda to merge MF arm with BNP Paribas AMC

A man walks past the Bank of Baroda headquarters in Mumbai, India, May 3, 2016. REUTERS/Danish Siddiqui/File Photo

State-owned lender Bank of Baroda (BoB), on Friday said that it has signed a binding agreement with BNP Paribas Asset Management Asia Ltd for a potential merger of their mutual fund business, in an all-stock deal, the bank said in a stock exchange filing.