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Complete Integration of Vijaya Bank, Dena Bank Expected in Two Years: Says Bank of Baroda
April 16, 2019
A senior official of Bank of Baroda (BoB) said that the lender will complete the merger of Vijaya Bank and Dena Bank with it within the next two years. The actual process had started on April 1.
The official said that it will take around a year for the IT platform integration alone and then another year for other processes and systems. They said that the government has provided over 5,000 crores worth of funds for the additional expenses and the maintenance of minimum capital as per the regulations.
After the merger, BoB has become India’s second largest state-owned bank which has over 9,500 branches across the country.
Photo credit: Gene Hunt on Visualhunt / CC BY
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