News Karnataka
Saturday, March 02 2024

Vijaya Bank merged with two banks in a formal ceremony

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baroda inner

Mangaluru: A symbolic amalgamation of Bank of Baroda, Vijaya Bank and Dena Bank was held at the Vijaya Bank, located near Jyothi Circle, with the erstwhile general managers of Dena Bank, Vijaya Bank and Baroda Bank lighting the lamp on Monday, April 1.

Lalit Tyagi, Deputy General Manager, Bank of Baroda, Regional Office, Bengaluru told reporters that the consolidated bank will be the second largest public sector bank in the country. It will have a wider geographical reach with over 9,500 branches, 13400 ATMs, 85,000 employees, serving 120 million customers and combined business mix of over Rs 15 Lakh Crore, he informed.

Meanwhile,  Lalit Tyagi informed that the best policies of all three banks will be adopted in future and reassured the employees not to worry for any reason. “The employees of the amalgamated bank will benefit from the diverse opportunities provided by a larger bank with significantly expanded size and scale. The employees will have improved professional exposure and prospects, including the global exposure”, he added.

When asked if there were any chances of revoking the merging decision or retaining the name of Vijaya Bank to the amalgamated bank, Lalith Tyagi refused to comment claiming that he was unaware of any such move. “We are here to inform about the amalgamation and its future course of action”, he clarified.

Erstwhile Vijaya Bank’s General Manager Sridhar Murthy, AGM Rangaraj and Nagaraj, Chief Manager of Dena Bank (Mangaluru) Nagaraj were present.

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