Business Companies 03 Jan 2019 Cabinet clears merge ...

Cabinet clears merger of Dena Bank, Vijaya Bank with BoB

PTI
Published Jan 3, 2019, 10:33 am IST
Updated Jan 3, 2019, 10:33 am IST
With the merger, BoB will become the third largest bank after State Bank of India and ICICI Bank.
The merger has been designed to make BoB as merged entity, a globally competitive lender, Prasad added.
 The merger has been designed to make BoB as merged entity, a globally competitive lender, Prasad added.

New Delhi: The government on Wednesday approved the merger of Dena Bank and Vijaya Bank with Bank of Baroda (BoB) to make it a globally competitive lender.

With the merger, BoB will become the third largest bank after State Bank of India and ICICI Bank.

 

"There will be no impact on the service conditions of the employees and there will be no retrenchment following the merger," Union Law Minister Ravi Shankar Prasad told reporters about decisions taken by the Union Cabinet.

The merger has been designed to make BoB as merged entity, a globally competitive lender, Prasad added.

...
Location: India, Delhi, New Delhi




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