Andhra Bank, Obc & Allahabad Banking Venture May Merge Alongside Punjab National Banking Venture

In the side past times side circular of banking secotr consolidation, Delhi based Punjab National Bank (PNB) is probable to accept over Andhra Bank, Allahabad Bank and Oriental Bank of Commerce (OBC). The procedure of merger volition outset inward coming three months. The novel government, which is going to move formed shortly volition brand conclusion virtually this merger process.
To trim bad lonas, the Indian authorities has been trying to consolidate its banking sector past times merging smaller regional public-sector banks amongst larger government-owned banks. Merging banks is besides meant to utilization superior lenders which tin size upwards to global competitors.

In the yr 2017, the authorities merged India’s largest lender State Bank of Republic of Republic of India (SBI) amongst its 5 associate banks viz State Bank of Patiala, State Bank of Bikaner together with Jaipur, State Bank of Raipur, State Bank of Travancore, State Bank of Hyderabad equally good equally amongst Bhartiya Mahila Bank (BMB).
Later the authorities merged Bank of Baroda (BoB) amongst Dena Bank together with Vijaya Bank, making it India’s sec largest banking venture beating someone sector lender ICICI Bank.
Last year, the authorities engineered state-owned Life Insurance Corp’s takeover of IDBI Bank, a stride to ensure that the banking venture amongst 1 of the highest levels of bad loans on its books is good capitalised.

About Punjab National Bank (PNB) :

The banking venture was founed inward 1984. It has roughly xi Crore customers. The banking venture has roughly 7000 branches, 10600 ATMs. In the fiscal yr 2017-18, the banking venture has faced the loss of Rs. 12,283 Cr together with the net of Rs. 56,876 Cr. Total assets of the banking venture Rs. 7,65,830 Cr. Total staff of the banking venture roughly 71,000.

About Andhra Bank :

The medium sized world sector banking venture equally founded inward the yr 1923. It offers it’s services inward 25 states together with three matrimony territories. It has 2,900 branches, 3,798 ATMs. The Indian authorities owns 90.85% of its part working capital missive of the alphabet together with LIC holds 7.66% of the shares inward the bank.

About Oriental Bank of Commerce :

The banking venture was founded inward the yr 1943. Headquartered inward Gurgaon, the banking venture currently has roughly 2700 branches together with 2621 ATMs. In the fiscal yr 2017-18, the banking venture faced the loss of Rs. 5,871 Cr.

Allahabad Bank :

The Kolkata headquartered banking venture was founed inward 1895. In has 3,245 branches all over India. In the fiscal yr 2018-19, it has faced the loss of Rs. 8334 Cr. 
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