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Bank of Baroda seeks to sell Dena Bank headquarter in BKC for Rs 530 cr

Dena Bank and Vijaya Bank got amalgamated with Bank of Baroda from this April

Press Trust of India  |  Mumbai 

Rising NPAs put Dena Bank under corrective action plan
Dena Bank

State-run has put on block the erstwhile headquarters of in the financial capital at a reserve price of Rs 530 crore.

and Vijaya Bank got amalgamated with from this April.

The property situated in the tony Bandra Kurla Complex central business district has a land area of 2,878.36 sqm with a built-up area of 9,953.73 sqm.

"invites bids for sale-cum-auction of Dena Corporate Centre in BKC through an e-auction," according to an offer document published in newspapers Thursday.

The auction will be held on October 18.

However the said the movable furniture and other fixtures in the property are not be part of the auction.

Bank of Baroda managing director PS Jayakumar had earlier said the three have presence in about 1,000 urban centres and that it would be relocating some of those branches to areas where it does not have presence.

In rural areas, however, the overlaps of branches are extremely thin, he had said earlier.

In May, a senior BoB official had said the bank would be rationalising 800-900 branches across the country to improve operational efficiency, following the merger.

The merger made BoB the third largest bank after State Bank of India and HDFC Bank.

First Published: Thu, September 12 2019. 17:00 IST