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Merger of Vijaya Bank and Dena Bank with Bank of Baroda to be effective from April 1.(REUTERS)

Merger of Vijaya Bank and Dena Bank with Bank of Baroda to be effective from April 1

New Delhi | By Press Trust of India
UPDATED ON FEB 21, 2019 06:58 PM IST
Besides, the board of the bank fixed March 11, 2019, as record date for issuing and allotting equity shares of the Bank of Baroda to the Shareholders of Vijaya Bank and Dena Bank.
Image for representation.(File photo)
Image for representation.(File photo)

Robber sets eyes on crores, settles for Rs 16,700 in coins in Mumbai

Mumbai, Hindustan Times | By HT Correspondent
UPDATED ON FEB 03, 2019 12:35 PM IST
The thief cut open the bathroom window grilles to enter the branch around 2am, said the police, who are going through the closed-circuit television (CCTV) camera footage to identify him.
People walk out from Bank of Baroda in New Delhi.(REUTERS FILE PHOTO)
People walk out from Bank of Baroda in New Delhi.(REUTERS FILE PHOTO)

Government approves merger of three state-owned banks

New Delhi | By Reuters
UPDATED ON JAN 02, 2019 05:52 PM IST
India’s cabinet has approved the merger of state-run Vijaya Bank and Dena Bank with Bank of Baroda, the government said on Wednesday, in a step aimed at cleaning up the country’s banking system.
The banks themselves aren’t happy with PCA, though. In September, in a meeting with the finance ministry (effectively their biggest shareholder), the State-owned banks sought a relaxation in it. There have been reports that the ministry could take up the issue with Reserve Bank of India(REUTERS)
The banks themselves aren’t happy with PCA, though. In September, in a meeting with the finance ministry (effectively their biggest shareholder), the State-owned banks sought a relaxation in it. There have been reports that the ministry could take up the issue with Reserve Bank of India(REUTERS)

RBI should be allowed to take the PCA mechanism to its logical end

Hindustan Times | By HT Correspondent
PUBLISHED ON OCT 22, 2018 01:23 PM IST
Prompt Corrective Action (PCA) ensures that future non-performing assets (NPAs) are not being created
The board of state-run Dena Bank Monday approved its merger with Bank of Baroda along with another state-run lender Vijaya Bank.(HT Photo)
The board of state-run Dena Bank Monday approved its merger with Bank of Baroda along with another state-run lender Vijaya Bank.(HT Photo)

Dena Bank board clears merger proposal with Bank of Baroda

Mumbai | By Press Trust of India
PUBLISHED ON SEP 24, 2018 10:40 PM IST
Last week, government had announced merger of Bank of Baroda, Vijaya Bank and Dena Bank to create the country’s second largest lender by assets and branches.
The combined institution would have the second largest branch network, with about 9,500 outlets nationwide, Moody’s added.(AFP)
The combined institution would have the second largest branch network, with about 9,500 outlets nationwide, Moody’s added.(AFP)

Merger of Bank of Baroda, Vijaya Bank and Dena Bank credit positive, says Moody’s

Hyderabad | By Press Trust of India
PUBLISHED ON SEP 20, 2018 04:12 PM IST
The merged bank would have a market share of about 7.2 per cent in deposits and 6.8 per cent in loans, based on March 2018 data, which would make it the second-largest bank by deposits and the third-largest by loans, Moody’s said in its report on Wednesday.
The government on Monday said state-owned Bank of Baroda, Vijaya Bank and Dena Bank will be merged to create the country’s third largest lender as part of efforts to revive credit and economic growth.(Reuters)
The government on Monday said state-owned Bank of Baroda, Vijaya Bank and Dena Bank will be merged to create the country’s third largest lender as part of efforts to revive credit and economic growth.(Reuters)

Bank of Baroda shares dip 16%, Dena Bank up by 20% after merger announcement

New Delhi | By Press Trust of India
UPDATED ON SEP 18, 2018 06:29 PM IST
Bank of Baroda’s market valuation fell by Rs 5,726.62 crore to Rs 30,013.38 crore on BSE. Vijaya Bank lost Rs 442.61 crore to Rs 7,355.39 crore in market capitalisation, while shares of Dena Bank jumped 19.75 per cent to end at Rs 19.10 — its highest trading permissible limit for the day.
Shares of Dena Bank surged up to 20 per cent, while Bank of Baroda tumbled nearly 14 per cent Tuesday following merger announcement.(HT File Photo)
Shares of Dena Bank surged up to 20 per cent, while Bank of Baroda tumbled nearly 14 per cent Tuesday following merger announcement.(HT File Photo)

Dena Bank surges 20%, Bank of Baroda tumbles 14% post merger announcement

New Delhi | By Press Trust of India
UPDATED ON SEP 18, 2018 03:50 PM IST
The move follows top lender State Bank of India last year merging with itself five of its subsidiary banks and taking over Bharatiya Mahila Bank, catapulting it to be among top 50 global lenders.
A Bank of Baroda branch in Connaught Circus Branch in New Delhi.(Pradeep Gaur/ Mint)
A Bank of Baroda branch in Connaught Circus Branch in New Delhi.(Pradeep Gaur/ Mint)

Bank of Baroda, Dena Bank, Vijaya Bank to be merged, create India’s third largest bank

Reuters, New Delhi | By HT Correspondent
UPDATED ON SEP 18, 2018 10:33 AM IST
The government will continue to provide capital support to the merged bank, expected to be India’s third largest.
The RBI said profitability of all commercial banks declined, partly reflecting increased provisioning.(Pradeep Gaur/Mint)
The RBI said profitability of all commercial banks declined, partly reflecting increased provisioning.(Pradeep Gaur/Mint)

Bad loan situation likely to worsen further, says RBI

Press Trust of India, Mumbai | By Press Trust of India
PUBLISHED ON JUN 26, 2018 06:22 PM IST
Referring to the 11 state-owned banks under prompt corrective action framework (PCA), the RBI said they may experience worsening of their GNPA ratio from 21% in March 2018 to 22.3% by this fiscal-end.
, Dena Bank and Punjab & Sind Bank have had no CEOs since the start of this year(Adeel Halim/Bloomberg)
, Dena Bank and Punjab & Sind Bank have had no CEOs since the start of this year(Adeel Halim/Bloomberg)

Top leadership spots vacant in state banks amid $210 billion bad loan clean-up

Bloomberg | By Anto Antony
UPDATED ON JUN 07, 2018 12:03 PM IST
About 30 top-level vacancies exist at state banks, including executive directors, PTI reported. Lack of leadership leaves these lenders struggling to formulate strategies and meet government conditions to win more funds under a record public bailout.
On Monday, federal investigators went after Usha Ananthasubramanian, currently the head of state-run Allahabad Bank, filing formal charges over her alleged involvement in a multi-billion dollar fraud involving jeweller Nirav Modi.(File photo)
On Monday, federal investigators went after Usha Ananthasubramanian, currently the head of state-run Allahabad Bank, filing formal charges over her alleged involvement in a multi-billion dollar fraud involving jeweller Nirav Modi.(File photo)

Think twice before busting India’s ailing banks

Bloomberg | By Mihir Sharma
UPDATED ON MAY 17, 2018 07:22 PM IST
Most small and medium enterprises are still dependent on bank credit -- particularly from state-owned banks, since private-sector banks tend to avoid lending to companies.
DENA BANK(HT Photo)
DENA BANK(HT Photo)

RBI puts Dena Bank under prompt corrective action, bars from giving fresh credit

Press Trust of India, New Delhi | By Press Trust of India, New Delhi
UPDATED ON MAY 12, 2018 12:41 PM IST
Dena bank on Friday reported widening of its net loss to Rs 1,225.42 crore in the March quarter on mounting bad loans and higher provisioning to cover them.
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