Dena Bank

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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.

Over 3,400 branches of 26 public sector banks closed or merged in last 5 years: RTI
Business

Over 3,400 branches of 26 public sector banks closed or merged in last 5 years: RTI

Over 3,400 branches of 26 public sector banks (PSBs) have been either closed or merged during the last five financial years due to merger under the consolidation exercise in the banking space, revealed an RTI query

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

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

FinMin assessing capital needs of PSU banks; Budget 2019-20 may make provision for Rs 30,000 cr
Business

FinMin assessing capital needs of PSU banks; Budget 2019-20 may make provision for Rs 30,000 cr

Five weak banks under the Prompt Corrective Action (PCA) framework of the Reserve Bank of India (RBI) too need capital to maintain minimum regulatory capital ratios as per the Basel III norms.

Bank of Baroda expects to complete integration of Dena Bank, Vijaya Bank in two years
Business

Bank of Baroda expects to complete integration of Dena Bank, Vijaya Bank in two years

State-owned Bank of Baroda (BoB) is likely to complete the process of merger of Dena Bank and Vijaya Bank with it in two years, said a senior official of BoB

Despite weaker Dena Bank, Bank of Baroda has minimal impact on NPAs post-merger, says CEO PS Jayakumar
Business

Despite weaker Dena Bank, Bank of Baroda has minimal impact on NPAs post-merger, says CEO PS Jayakumar

The amalgamation of Dena and Vijaya with BoB is the second merger during the past five years

Bank of Baroda pips PNB to become largest nationalised lender after merger with Dena, Vijaya Bank
Business

Bank of Baroda pips PNB to become largest nationalised lender after merger with Dena, Vijaya Bank

Bank of Baroda, the second largest public sector lender after State Bank of India (SBI), now has over 9,500 branches, 13,400 ATMs, and 85,000 employees to serve 12 crore customers.

Vijaya Bank, Dena Bank merger with BoB will benefit customers and employees: Unified management
Business

Vijaya Bank, Dena Bank merger with BoB will benefit customers and employees: Unified management

The consolidated bank, which went into effect from Monday, will be the second largest public sector bank in the country having a wider geographical reach with 9,500 plus branches

BoB, Dena and Vijaya Bank merger: India’s third-largest lender is here, but does this exercise make real sense?
Business

BoB, Dena and Vijaya Bank merger: India’s third-largest lender is here, but does this exercise make real sense?

This is a merger of two healthy banks with one weak, capital-starved, NPA-ridden candidate and it is easy to see who stands to gain the most

Bank of Baroda is now third largest lender as Dena, Vijaya Bank merger take effect from 1 April
Business

Bank of Baroda is now third largest lender as Dena, Vijaya Bank merger take effect from 1 April

State-run Bank of Baroda is catapulting itself for a larger play in the system with the merger of Dena Bank and Vijaya Bank with itself from Monday.

BoB-Dena-Vijaya Bank merger: Amalgamation to create second largest PSB; here is how things will change for customers
Business

BoB-Dena-Vijaya Bank merger: Amalgamation to create second largest PSB; here is how things will change for customers

The government in September last year had announced the merger of Vijaya Bank and Dena Bank with BoB, aiming to create the third-largest lender after SBI and ICICI Bank.

Supreme Court refuses to stay merger of Vijaya, Dena Bank with Bank of Baroda, dismisses applications by bank officers' associations
Business

Supreme Court refuses to stay merger of Vijaya, Dena Bank with Bank of Baroda, dismisses applications by bank officers' associations

The proposed amalgamation will make Bank of Baroda the second largest public sector bank after State Bank of India

Bank of Baroda shares jump nearly 7% on govt's decision to infuse Rs 5,042 crore into state-owned lender
Business

Bank of Baroda shares jump nearly 7% on govt's decision to infuse Rs 5,042 crore into state-owned lender

The stock of Bank of Baroda climbed 6.62 percent to close at Rs 129.60 on the BSE. During the day, it gained 7.28 percent to Rs 130.40

Govt to infuse Rs 5,042-crore capital into Bank of Baroda ahead of Dena Bank, Vijaya Bank merger
Business

Govt to infuse Rs 5,042-crore capital into Bank of Baroda ahead of Dena Bank, Vijaya Bank merger

The government in September last year had announced merger of Vijaya Bank and Dena Bank with Bank of Baroda, aiming to create the third-largest lender after SBI and ICICI Bank

RBI imposes Rs 11 crore fine on 4 banks for non-compliance in Swift operations
Business

RBI imposes Rs 11 crore fine on 4 banks for non-compliance in Swift operations

Post the PNB fraud, which came to light in February 2018, the RBI has been tough on banks to tighten all kind of their transactions.

RBI imposes Rs 8 crore fine on three banks for non-compliance of directions on Swift messaging software
Business

RBI imposes Rs 8 crore fine on three banks for non-compliance of directions on Swift messaging software

The Reserve Bank of India has imposed a total monetary fine of Rs 8 crore on three banks - Karnataka Bank, United Bank of India and Karur Vysya Bank - for non-compliance of directions on Swift messaging software

RBI slaps Rs 7 cr fine on four banks for non-compliance with various directions, regulatory filings
Business

RBI slaps Rs 7 cr fine on four banks for non-compliance with various directions, regulatory filings

The Reserve Bank has imposed a monetary penalty of Rs 3 crore on Union Bank, Rs 2 crore on Dena Bank, and Rs 1 crore each on IDBI and the SBI for non-compliance with various directions, regulatory filings said on Saturday

Govt keen on amalgamation of PSBs to create globally competitive, healthy large banks: Arun Jaitley
Business

Govt keen on amalgamation of PSBs to create globally competitive, healthy large banks: Arun Jaitley

Jaitley said the NPA situation of PSU banks has improved in the last 2-3 quarters and the NDA government has ended the practice of "phone banking"