BoB, Vijaya Bank approve merger proposal to create second largest PSU lender

BoB, Vijaya Bank approve merger proposal to create second largest PSU lender

Days after the government announced the merger of state-run Bank of Baroda, Vijaya Bank and Dena Bank, the boards of BoB and Vijaya Bank on Saturday gave in-principle approvals for their amalgamation with Dena Bank a move that would create the second-largest entity in the PSU banking space. Post-merger, the asset size of the new entity would be over Rs 14.5 lakh crore. The amalgamation of the three banks would be through share swap which will be the part of the scheme of merger. Post-merger of BoB, Vijaya Bank and Dena Bank, the number of PSU banks will come down to 19 from the present 21. 

Read More at The Economic Times News date : 29 Sep 2018, Saturday

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