Andhra Bank

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Andhra Bank - Total results - 59
Suresh N Patel, ex-CEO of Andhra Bank, takes oath as vigilance commissioner via video conferencing due to coronavirus lockdown
India

Suresh N Patel, ex-CEO of Andhra Bank, takes oath as vigilance commissioner via video conferencing due to coronavirus lockdown

Eminent banker Suresh N Patel on Wednesday took oath as the Vigilance Commissioner in the anti-corruption watchdog CVC, officials said.

Union Bank becomes 5th largest PSB post-merger with Andhra Bank, Corporation Bank
Business

Union Bank becomes 5th largest PSB post-merger with Andhra Bank, Corporation Bank

Union Bank on Wednesday said it has become the country's fifth-largest public sector lender after amalgamating Andhra Bank and Corporation Bank into itself

Mega PSU bank merger marks new dawn for Indian banking space: Finance ministry
Business

Mega PSU bank merger marks new dawn for Indian banking space: Finance ministry

The biggest-ever consolidation exercise in the public sector banking space effected on Wednesday will mark a new dawn for the Indian banking sector, the Finance Ministry said on Wednesday

Merger of 10 PSU banks comes into effect from today; 10 things you need to know about implications of govt's move
Business

Merger of 10 PSU banks comes into effect from today; 10 things you need to know about implications of govt's move

10 PSU banks are being amalgamated with a larger bank, referred to as the anchor bank

Mega-merger of PSU banks on schedule: 6 banks cease to exist from today; experts say exercise will not be smooth, seamless
Business

Mega-merger of PSU banks on schedule: 6 banks cease to exist from today; experts say exercise will not be smooth, seamless

Experts said bank merger at this point of time will not be very smooth and seamless. However, heads of the anchor banks are exuding confidence.

10 State-owned banks announce share swap ratios for mergers with nearing of March-end deadline
Business

10 State-owned banks announce share swap ratios for mergers with nearing of March-end deadline

The Union Cabinet on Wednesday had okayed the amalgamation of 10 public sector banks to create four large state-owned lenders with effect from 1 April, 2020

Mega bank consolidation: Meeting 1 April deadline appears challenging with approvals, clearances still pending
Business

Mega bank consolidation: Meeting 1 April deadline appears challenging with approvals, clearances still pending

According to a senior banker, information technology integration of Vijaya Bank and Dena Bank with Bank of Baroda is still in process even after 10 months of merger.

PSU bank consolidation: PNB, Union Bank get in-principle nod from govt for proposed merger
Business

PSU bank consolidation: PNB, Union Bank get in-principle nod from govt for proposed merger

Punjab National Bank and Union Bank of India on Monday said they have received in-principal approval from the government for their amalgamation with other public sector banks

Total of 34 functional teams to smoothen bank merger of UBI, PNB, OBC; to come into force on 1 April
Business

Total of 34 functional teams to smoothen bank merger of UBI, PNB, OBC; to come into force on 1 April

The complete harmonisation among the three entities would take another 12 to 14 months after the merger

Union Bank board okays merger of Andhra, Corporation Bank with itself; clears Rs 17,200-cr capital infusion
Business

Union Bank board okays merger of Andhra, Corporation Bank with itself; clears Rs 17,200-cr capital infusion

Union Bank of India on Monday said its board of directors has approved the merger of Andhra Bank and Corporation Bank with itself and given nod for a capital infusion of Rs 17,200 crore in the current financial year

Finance Minister Nirmala Sitharaman says Centre will respond to challenges faced by all sectors
India

Finance Minister Nirmala Sitharaman says Centre will respond to challenges faced by all sectors

Union Finance Minister Nirmala Sitharaman on Friday said the government will respond to the challenges faced by all the sectors.

Union Bank of India board meet on 9 September to approve amalgamation of Andhra Bank, Corporation Bank with itself
Business

Union Bank of India board meet on 9 September to approve amalgamation of Andhra Bank, Corporation Bank with itself

State-owned Union Bank of India on Wednesday said its board will meet on 9 September to approve amalgamation of Andhra Bank and Corporation Bank with itself

Mega merger woes: Bank officers associations to meet in Delhi today, will decide on future course of action
Business

Mega merger woes: Bank officers associations to meet in Delhi today, will decide on future course of action

Besides, Indian Bank will be merged with Allahabad Bank, making it the seventh-largest state-owned bank. Andhra Bank is the second city-based bank which will lose its geographical identity.

Mega merger: PNB, Canara, Union, Indian Bank shares feel heat on bourses post-amalgamation; what is the shareholder thinking?
Business

Mega merger: PNB, Canara, Union, Indian Bank shares feel heat on bourses post-amalgamation; what is the shareholder thinking?

For better understanding, let’s look at the share movement of the acquiring banks or the anchor banks involved in the merger process.

PSU banks merger woes: Bank officers associations to meet in Delhi on 5 September
Business

PSU banks merger woes: Bank officers associations to meet in Delhi on 5 September

Opposing the merger of banks, officers associations of various banks will meet in the national capital on 5 September to chalk out the future course of action, a top official of All India Andhra Bank Officers Association said here on Tuesday

Public sector bank stocks plunge up to 9.3% post-merger announcement; Andhra Bank,  Syndicate Bank among gainers
Business

Public sector bank stocks plunge up to 9.3% post-merger announcement; Andhra Bank, Syndicate Bank among gainers

Oriental Bank of Commerce cracked 7.34% to Rs 68.10, Union Bank of India 6.79% to its 52-week low of Rs 54.90, Allahabad Bank declined by 2.83% to Rs 34.30 and United Bank 0.28% to Rs 10.39 on the BSE.

PSB mega mergers: PNB to consider Rs 18,000-cr capital infusion in board meeting on 5 September
Business

PSB mega mergers: PNB to consider Rs 18,000-cr capital infusion in board meeting on 5 September

Finance Ministry has decided that PNB, OBC and UBI may consider the amalgamation of OBC and UBI into PNB

Government announces plan to merge 10 PSBs to 4 to gain size: Eight questions on big bank merger exercise
Business

Government announces plan to merge 10 PSBs to 4 to gain size: Eight questions on big bank merger exercise

Isn’t the consolidation plan going against the policy of Reserve Bank of India and government’s own idea to give more bank licenses to increase competition

PNB likely to take control of Allahabad Bank, two other PSBs; process may start in next 3 months
Business

PNB likely to take control of Allahabad Bank, two other PSBs; process may start in next 3 months

PNB could start the process of taking control of the banks in the next three months, according to the sources, who declined to be named, as they are not authorised to speak to the media.

Bank loan fraud: Enforcement Directorate attaches Rs 483-cr assets of Kolkata-based Tayal group of companies
Business

Bank loan fraud: Enforcement Directorate attaches Rs 483-cr assets of Kolkata-based Tayal group of companies

Assets worth Rs 483 crore of a Kolkata-based group have been attached by the ED in connection with an alleged multi-crore bank loan fraud case, officials said on Tuesday