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Tuesday, July 19, 2011

Polaris picks 51% in Bangladesh bank

Date:19/7/11,
M&A,
Cross Border Del,

Polaris Software Lab Ltd, a Chennai based mid tier banking financial services and insurance IT product company, acquires 51% stake in Bangladesh’s largest nationalised commercial bank, Sonali Bank, for an undisclosed amount.

Following the buyout, Polaris has formed a new joint venture company, Sonali Polaris Financial Technology (SPFTL). Also, as part of the deal, the existing IT system was replaced with Polaris' core banking solution (CBS) 'Intellect' at 2 banks, including Sonali Bank and Bangladesh Commerce Bank (BCBL).   
Posted by Baigalla madhan at 12:07 PM

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HI I'am Baigalla Madhan behalf of (Universalfacts) My Blog, provides complete information of online financials data services which includes ,,, Private Equity (Asset Managers) (Investments), Venture Capital (Asset Managers) (Investments), M&A, IPO, Funds (Private Equity and Venture Capital Funds), Deals (Private Equity deals, Venture Financing Deals (series A to G), Strategic and M&A Deals), Limited Partners, Advisors Firms, Public Equity, Financials Reports...

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