Bank of India acquires balance stake in BOl AXA Investment Managers and BOI AXA Trustee Services

Bank of India has purchased the shareholding of AXA Investment Managers Asia Holdings (AXA IM) - (a) entire 47.07% equity shares in BOl AXA Investment Managers (BAN); and (b) entire 49% equity shares in BOI AXA Trustee Services (BATS). After the captioned acquisitions, both BAIM and BATS have become wholly owned subsidiaries of Bank of India.

The acquisition of 47.07% and 49% stake of AXA IM in BAIM and BATS shall enable Bank of India to have complete control of BAIM and BATS and grow the Asset Management business by leveraging on the BOI brand and distribution strength. AUM of BOI AXA Mutual Fund is over Rs 2730 crore as on 30 November 2021.

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