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Outgoing Union Bank Chief pitches for merger with small banks
May 12, 2017
- “Public sector lender Union Bank of India is keen to acquire a smaller public sector bank and has submitted a plan to the government already”, said Arun Tiwari, Chairman and Managing Director.
- “In March, Tiwari had made a presentation to the NITI Aayog, where he listed possible acquisition targets”, he said in a select media interaction before his retirement on June 30.
- Tiwari will be succeeded by Raj Kiran Rai G, who will be joining Union Bank of India as Managing Director and Chief Executive Officer after serving as Executive Director at Oriental Bank of Commerce.
- The government had announced Rai’s appointment in a notification on May 5.
