First-ever Three Way Merger in Indian Banking
The Union Cabinet on January 2 approved the scheme of amalgamation for amalgamating Bank of Baroda, Vijaya Bank and Dena Bank, with Bank of Baroda as the transferee bank and Vijaya Bank and Dena Bank as transferor banks.
Impact
- The amalgamation will be the first-ever three-way consolidation of banks in India, with the amalgamated bank being India's second largest Public Sector Bank.
- The amalgamation will help create a strong globally competitive bank with economies of scale and enable realisation of wide-ranging synergies.
- Leveraging of networks, low-cost deposits and subsidiaries of the three banks has the potential of yielding significant synergies for positioning the ....
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