State-run Central Bank of India has sold its entire stake in credit information provider Cibil to Transunion International Inc for an undisclosed amount.
"Central Bank of India has informed BSE that after due approval, the lender has sold its entire stake in Credit Information Bureau of India Limited (Cibil) to Transunion International Inc," it said in a BSE filing.
Cibil collects and maintains records of an individual's payments of loans and credit cards. Records are submitted to Cibil by banks and other lenders on a monthly basis.
Central Bank had a 5 per cent stake in CIBIL, as per information available on the website of the credit scorer while Transunion is the majority shareholder in CIBIL at 27.5 per cent. Among others, Bank of Baroda, Bank of India, Punjab National Bank, Union Bank, Citicorp Finance (India), HSBC, Standard Chartered Bank, Indian Overseas Bank and HDFC Ltd each hold 5 per cent stake in CIBIL, the website shows. State Bank of India and ICICI Bank carry 10 per cent each, while rest of 2.5 per cent is with Sundaram Finance Ltd.
Shares of Central Bank today closed 1.79 per cent up at Rs 45.55 apiece on the BSE.
"Central Bank of India has informed BSE that after due approval, the lender has sold its entire stake in Credit Information Bureau of India Limited (Cibil) to Transunion International Inc," it said in a BSE filing.
Cibil collects and maintains records of an individual's payments of loans and credit cards. Records are submitted to Cibil by banks and other lenders on a monthly basis.
Also Read
Such information is used to create Credit Information Reports (CIR) and credit scores which are provided to lenders to help evaluate and approve loan applications.
Central Bank had a 5 per cent stake in CIBIL, as per information available on the website of the credit scorer while Transunion is the majority shareholder in CIBIL at 27.5 per cent. Among others, Bank of Baroda, Bank of India, Punjab National Bank, Union Bank, Citicorp Finance (India), HSBC, Standard Chartered Bank, Indian Overseas Bank and HDFC Ltd each hold 5 per cent stake in CIBIL, the website shows. State Bank of India and ICICI Bank carry 10 per cent each, while rest of 2.5 per cent is with Sundaram Finance Ltd.
Shares of Central Bank today closed 1.79 per cent up at Rs 45.55 apiece on the BSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%