Bank of Baroda Becomes Second Largest Bank After SBI
- Bank of Baroda (BoB) became the second largest state-owned lender after merging Dena Bank and Vijaya Bank into itself as part of the first three-way amalgamation.
- Post-amalgamation, the bank will have a 22 per cent market share in Gujarat and 8-10 per cent market share in Maharashtra, Karnataka, Rajasthan and Uttar Pradesh.
- All customers of Dena Bank, which is under prompt corrective action (PCA) framework of the RBI, will have renewed access to credit facilities immediately.
- The announcement of the three-way merger was among several reforms initiatives undertaken by Financial Services Secretary to make public sector banks (PSBs) healthy, robust and globally competitive.
- Following ....
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