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Explained: What was the need to merge Vijaya, Dena Bank with Bank of Baroda

The merged entity will become India's third largest bank after SBI and HDFC Bank

Topics
Bank Merger  |  Bank Of Baroda  |  Dena Bank

Anup Roy 

The three banks being merged now were nowhere close to failure, even though Dena Bank was carrying high bad debts in its books
The three banks being merged now were nowhere close to failure, even though Dena Bank was carrying high bad debts in its books

The Cabinet on Wednesday approved the merger of Vijaya and with the much larger Bank of Baroda, effective April 1. The boards of the three banks approved the swap ratio for this all-stock deal on the same day. For every 1,000 equity shares of and Dena Bank, investors will get 402 and 110 equity shares respectively of . This is the first three-way in the country and will pave the way for possibly more such mergers. Anup Roy explains the implications.

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First Published: Thu, January 03 2019. 20:51 IST
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