Indian Stock Market News and Analysis

Vijaya Bank may rope in partner for credit card biz
body{margin:0px; font-family:Arial;} .heading{font-size:22px; padding:3px; color:#002b99; font-family:Tahoma;font-weight:bold} .subhead{background-color:#e3e3e3; font-size:14px; padding:3px;} .newstext{color:#004276; font-size:14px; padding:3px;font-family:arial} .redbar{background-color:#a60000; font-size:10px; color:#FFFFFF;padding:3px;} .black{background-color:#000000; font-size:10px; color:#FFFFFF;padding:3px;} .smalltext{font-size:10px; padding:3px;}

In order to expand its credit card business Bangalore-based Vijaya Bank (Q, N,C,F)* may rope in a strategic partner, reports Economic Times.

>The Bank may form a joint venture, in which it will hold a majority stake.

Vijaya Bank has issued over 150,000 credit cards and over 290,000 debit cards. The total card turnover of the bank is about Rs 3,500 million.

S hares of the bank closed down Rs 0.50, or 0.71%, at Rs 69.60. The total volume of shares traded at the BSE was 936,554. (Monday)