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.
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
The complete harmonisation among the three entities would take another 12 to 14 months after the merger
Finance Ministry has decided that PNB, OBC and UBI may consider the amalgamation of OBC and UBI into PNB
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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.
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
The amalgamation of Dena and Vijaya with BoB is the second merger during the past five years
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.
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
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
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
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
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
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
Vijaya Bank third quarter net profit surges 80% to Rs 143 cr; gross NPAs decline marginally to 6.14%
Total income of Vijaya Bank also rose to Rs 4,106.42 crore during the period, compared with Rs 3,450.81 crore a year ago, Vijaya Bank said in a regulatory filing.
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The scrip of Dena Bank plummeted 19.77 percent to Rs 14.40 on BSE. Shares of Vijaya Bank plunged 7.44 percent to Rs 47.25.
Bank of Baroda, Dena, Vijaya Bank merger: No real winners here; one bad apple can spoil the whole bunch
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