Bank Of Baroda & Vijaya Banking Concern Approve Merger Amongst Dena Bank

As per the proposal made past times the regime of Bharat before this month, the Boards of Vijaya Bank together with Bank of Baroda (BoB) gave in-principle approvals for the amalgamation with Bombay headquartered lender Dena Bank. This deed would practise the mo largest entity inward the PSU banking infinite afterward State Bank of Bharat (SBI).
Earlier on 17th September 2018, the regime announced the merger of Bank of Baroda, Vijaya Bank together with Dena Bank to practise India’s second-largest world sector depository fiscal establishment past times assets together with branches. Dena
depository fiscal establishment already gave it’s postage of blessing on the three-way depository fiscal establishment merger at nowadays afterward the announcement.
The regime owns bulk stakes inward 21 lenders, which delineate of piece of occupation organisation human relationship for to a greater extent than than two-thirds of banking assets inward the Asia’s 3rd biggest economy.
In Apr 2017, State Bank had merged with itself 5 of its subsidiary banks together with took over Bharatiya Mahila Bank, catapulting it alongside the transcend fifty global lenders with over $550 billion inward combined assets.
Post-merger, the property size of the novel entity would live on over Rs 14.5 lakh crore. After the merger of BoB, Vijaya Bank together with Dena Bank, the pose out of world sector banks volition come upwards downwards to 19.
Important Points to Note :

  • The merged entity volition brand the 3rd largest lender of the province afterward State Bank of Bharat together with the HDFC Bank the 2nd largest Public Sector lender afterward State Bank of Bharat (SBI). 
  • The Indian regime is also planning to merge 3 to a greater extent than PSUs Andhra Bank, Punjab National Bank together with Oriental Bank of Commerce (OBC) past times 1st Apr 2019.
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