Centurion, Lord Krishna Bank to pursue merger

 Updated at 1500 hrs: The board of directors of Centurion Bank of Punjab (CBoP), which met today, has accorded an in-principle consent to pursue a merger of Lord Krishna Bank with the bank.

According to a release issued by CBoP to the BSE today, Ambit Corporate Finance Pte and DSP Merrill Lynch are the investment bankers of the bank and Lord Krishna Bank, respectively, for the transaction.

"The board intends to meet again on September 4, 2006 to consider the terms of the merger and other related documents after receipts of the valuation reports," the release added.