Three public sector lenders, Bank of Baroda, Andhra Bank and Indian Overseas Bank are aiming to join hands and start a commerical bank in Malaysia. The bank will thus be a JV commercial bank.

"Although the actual investment ratio was yet to be finalised, Bank of Baroda (BOB) will be a major stakeholder in the JV. The new bank would render total commercial bank services in Malaysia for the benefit of Indians and Malaysian citizens," Bank of Baroda Executive Director N S Srinath said.

He said that the first branch of this bank is expected to come up Kuala Lumpur in this year before November.

The bank presently has a customer base of 39 million., The bank hopes to take it to 40 million in the near future, he said.