BoB, Dena, Vijaya Bank merger: Employees get reassurance from top brass

Vijaya Bank assured employees that the service conditions 'will remain unaffected and staff benefits retained'

In an effort to soothe nervousness among employees, the managements of Bank of Baroda, Vijaya Bank and Dena Bank have assured that service conditions won’t be compromised after the merger. In addition, all three public sector banks said business continues to remain as usual.

“In the current state, where the banking industry is fragmented with 21 public sector banks having limited differentiation, sub-optimal scale of operations and unhealthy competition for similar business, consolidation is inevitable,” Bank of Baroda’s top management, including Managing Director and Chief Executive Officer P S Jayakumar, wrote to employees.

“We would also like to state that