Dena Bank & Vijaya Bank Merge with Bank of Baroda
For the first time in India, on 1st April 2019, Dena Bank and Vijaya Bank merged with Bank of Baroda to form India’s second largest Nationalised Bank worth Rs 15 lakh crore.
For the first time in India, on 1st April 2019, Dena Bank and Vijaya Bank merged with Bank of Baroda to form India’s second largest Nationalised Bank worth Rs 15 lakh crore. After the merger, Bank of Baroda now has 9,500 branches in India. The merger has improved their reach in western, southern, north-eastern India. The bank will now have 13,400 ATMs and above 85,000 employees who will serve over 12 crore customers.
Birendra Kumar, general manager of Bank of Baroda zonal office in Bengaluru said that customers will experience better banking services because of the merger.
Customers will receive benefits such as, cash management solution, financial planning, wealth management,etc.
On 26th December 2018 employees of Dena Bank and Vijaya Bank had gone on strike to protest this merger. According to the various bank unions, after the merger make branches of the banks would shut down. This would make banking very difficult for customers as well. Bank of Baroda has promised that employees and customers will benefit. They said that all the problems will be solved within one and a half years.
