Sun, Apr 14, 2019
The process has been designed to ensure that there is minimum disruption of the customers during the transition period, the official said adding that the branding of the three entities will be retained in the interim period and will be transitioned to the new brand in a phased manner to ensure minimum disruption to existing operations.
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"Bank of Baroda has decided to engage a consultancy firm to conduct an independent review of the overall evaluation and effectiveness of the bank's board. The review would provide an opportunity to align and prioritise the board's focus on critical issues," the RFP said.
Mon, Apr 01, 2019
Amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda has been notified on January 2, 2019. The notification has come into force on April 1, 2019, the RBI said in a notification.
Combined entity has a network of close to 9500 branches, approximately 13000 ATMs across India. (Vijaya Bank - ATMs approx 2000 & Branches approx 2050 , Dena Bank - ATMs approx 1500 & branches approx 1850) .
For existing investors in Dena and Vijaya Bank, their shares have now converted into BoB shares.
While BoB will see no changes in its operation, however, it would be Dena Bank and Vijaya Bank who will see new set of business and operations.
Shareholders of Vijaya Bank got 402 equity shares of BoB for every 1,000 shares held. In the case of Dena Bank, its shareholders received 110 shares of BoB for every 1,000 shares.
Sun, Mar 31, 2019
The government in September last year announced the first-ever three-way consolidation of banks in India, with a combined business of Rs 14.82 lakh crore, making it the third-largest bank after State Bank of India (SBI) and ICICI Bank.
Branches of Vijaya Bank and Dena Bank will function as Bank of Baroda outlets from April 1, following amalgamation of the two lenders with the latter, the RBI said Saturday. The merger of Vijaya Bank and Dena Bank with Bank of Baroda, will be effective from April 1, 2019.
Sat, Mar 30, 2019
Rejecting the applications filed against the merger of these three banks, the apex court has agreed on staying firm on acquisition date to come into effect from April 01.
Fri, Mar 29, 2019
Continuing its merger plan for public sector banks, government last year, decided to merge one weaker lender Dena Bank and anchor lender Vijaya Bank with a 130 year old Bank of Baroda (BoB).
Fri, Mar 22, 2019
The government has so far pumped Rs 1.90 lakh crore into PSBs since it announced the recapitalisation plan in October 2017.
Thu, Feb 21, 2019
This scheme may be called the Amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda Scheme, 2019, BoB said citing the government notification. "It (amalgamation) shall come into force on the 1st day of April, 2019," it said.
Wed, Jan 30, 2019
BoB made an impressive announcement which included stability in gross NPA, provisions, three-times higher net profits and good loan book in December 2018 (Q3FY19) quarter.
Wed, Jan 09, 2019
After obtaining RBI inputs, the government has notified the scheme of amalgamation for Bank of Baroda, Vijaya Bank and Dena Bank.
Fri, Jan 04, 2019
The shareholders of Vijaya Bank will get 402 equity shares of Bank of Baroda for every 1,000 shares they posses, while Dena Bank's shareholders will get 110 Bank Of Baroda shares for every 1,000 shares they hold.
Mega size may translate into big profits too, down the line. So, as an investor, here is why you might want to think about grabbing a piece of BoB, because it is set to be a money making magnet going forward.
Thu, Jan 03, 2019
In these cases Vijaya Bank and Dena Bank are swapping equity shares with BoB, but this comes as a loss for the two smaller banks' share price, as value will decline.
The Sensex, on Wednesday closed at 35,891.72, jumping 363 points or 1 per cent down. While Nifty fell 117 points or 1.1 per cent to close at 10,792.50.
Fri, Dec 28, 2018
Bank strike: In a notification to exchanges, United Bank said a strike has been "called by All India Bank Employees' Association (AlBEA) & Bank Employees Federation of India (BEFI) on 8th January, 2019 and 9th January, 2019 on various issues connected to the banking industry."
Wed, Dec 26, 2018
Operations at public sector banks across the country were impacted today due to a strike called by unions against the proposed merger of Vijaya Bank and Dena Bank with Bank of Baroda (BoB).
Mon, Dec 24, 2018
Bank Strike on 26 December 2018: Services in most of the banks, including private lenders, will be hit on Thursday (December 26) due to a strike called by around one million employees of various banks.
Sun, Dec 16, 2018
The All India Bank Employees Association (AIBEA) which has called for a nation-wide strike on December 26 opposing the merger of Bank of Baroda, Dena Bank and Vijaya Bank, Saturday said the move was unwarranted as it would not be beneficial to the economy and the people at large.
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