Corporation Bank

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

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

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.

Corporation Bank Q3 net profit jumps to Rs 421 cr on higher interest income; bad loan provisions surge

Public sector lender Corporation Bank on Friday said its consolidated net profit increased seven fold to Rs 420.83 crore in third quarter ended 31 December, 2019 on higher interest income, albeit provisions for bad loans surged

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

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

Canara, Corporation Bank, others introduce repo linked loan products to meet 1 October deadline

In 2019, the RBI reduced the repo or short-term lending rate by 110 basis points (bps), but the banks have reportedly passed on only up to 40 bps to borrowers

Boards of Corporation Bank, Allahabad Bank give in-principal approval for respective merger plans

Corporation Bank on Monday said the board has given its in-principle approval for the merger with Union Bank of India

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

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