With the merger of Vijaya Bank and Dena Bank Bank of Baroda
New Delhi: With the merger of Vijaya Bank and Dena Bank Bank of Baroda (BOB), the Bank of Baroda has become the country's third largest bank. In the country's largest public sector bank, SBI is at number one, while the second-largest HDFC Bank is in the top, and now Bank of Baroda is at number three in the list.
New Delhi: With the merger of Vijaya Bank and Dena Bank Bank of Baroda (BOB), the Bank of Baroda has become the country's third largest bank. In the country's largest public sector bank, SBI is at number one, while the second-largest HDFC Bank is in the top, and now Bank of Baroda is at number three in the list.
Bank of Baroda's balance sheet has gone up to more than Rs 15 lakh crore, with deposits of 8.75 lakh crore and advance (borrowing) 6.25 lakh rupees. In total, Bank of Baroda has 12 million subscribers, 85,000 employees, more than 9500 branches and 13,400 ATMs. With the merger, the number of government banks in India has dropped to 18.
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The most important thing is that the impact of the merger of all the three banks will be affected. Customers will benefit from the merger that, the loss is necessary to know.
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Immediate benefit to Dena Bank customers
Speaking of Vijaya Bank customers, these bank customers will start getting immediate loans from now on. For the last several months, Dena Bank was under the RBI's Proactive Corrective Action, due to which Vijaya Bank customers could not get loans.
The benefits of global presence
Now the banks of Dena Bank and Vijay Bank will get the benefit of the presence of 101 offices at the global level of BOB. Most importantly, the benefits of any special scheme of any one bank can now be lifted by the customers of other two banks. Eg. If necessary, the customers of Bank of Baroda and Dena Bank can now take advantage of Vijaya Bank's exclusively scheme like plantation financing and SRTO funding.
Product range will increase.
All three banks now have a wide range of products. Bank of Baroda CEO P.S.Ajay Kumar said that the customer base of the Center of Excellence is going to be of big advantage in big investment in technology and analytics and AI and technology.
Shareholders will also be able to ...
Under the agreement, Vijaya Bank's shareholders are getting 402 shares of Bank of Baroda in exchange for 1000 shares. On the other hand, Dena Bank's shareholders are getting 110 shares of Bank of Baroda against 1000 shares. Experts believe that due to this merger, efficiency will increase so that customer service can be strengthened. This is a benefit deal for both the customers as well as the banks.
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