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References in periodicals archive ?
Dena Bank and Vijaya Bank will help Bank of Baroda increase its reach in the western, southern and northeastern regions.
Shareholders of Vijaya Bank are to get 402 equity shares of BoB for every 1,000 shares held.
While BoB and Vijaya Bank can shore up capital from operating profits, Dena Bank will have to hold the bowl for cash, pegged at Rs 3,500-4,000 crore.
The government of India's plan to merge three public sector banks, Bank of Baroda, Vijaya Bank and Dena Bank, will be credit positive as it will provide efficiencies of scale and help improve the quality of corporate governance for the banks, Moody's Investors Service VP (Financial Institutions Group) Alka Anbarasu said.
Vijaya Bank, one of the leading banks from India, has a prime customer base in the GCC.
New Delhi (India), Jan 2 ( ANI ): The Union Cabinet on Wednesday approved the scheme of amalgamation paving the way for the amalgamation of Bank of Baroda, Vijaya Bank, and Dena Bank, the first-ever three-way consolidation of banks in India.
India-based Vijaya Bank has posted a fall in profits.
Dena Bank said, 'The board meeting has decided to recommend for amalgamation of our bank with Bank of Baroda and Vijaya Bank.
Dena Bank's lower capital buffers are offset by Vijaya Bank's higher capital buffers, it said, adding that the merged bank may need additional tier 1 capital depending on internal accruals for FY19.
Financial Services Secretary Rajiv Kumar said, "We have decided to merge Dena Bank, Vijaya Bank and Bank of Baroda.
Summary: New Delhi [India], Sep 18 (ANI): Principal Economic Advisor to the Ministry of Finance, Sanjeev Sanyal, said that the decision to merge three Public Sector Banks, namely, Vijaya Bank, Dena Bank, and the Bank of Baroda will make them commercially successful.
M2 EQUITYBITES-August 2, 2018--HDFC Life and Vijaya Bank enter into bancassurance deal