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After SBI Merger, Now Canara Bank May Take Over Two Lenders
June 30, 2017
In its second round of consolidation, the government is planning to have public sector lender Canara Bank to take over Dena Bank and Vijaya Bank. According to a senior official, the talks are ongoing and it’s likely that Dena Bank and Vijaya Bank will be merged together before finally being taken over by Canara Bank.
The senior official said that the government plans to create a three-tier structure for the public-sector banks under which the current 21 banks will be reduced to 10-12. The goal is to create at least 3 sizeable banks comparable to SBI.
