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Bank of Baroda, Accenture complete technology integration of former Vijaya Bank's branches
Accenture is now helping align former Dena Banks IT systems with Bank of Baroda, a joint statement said on Monday. The merger of Vijaya Bank and Dena Bank with Bank of Baroda in 2019 created the country's third-largest public sector bank.
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Bank of Baroda to completely digitise lending operations
The validation and disbursal of fresh loans will happen via this digital platform while past loans will also be digitised to cut costs and improve profitability. The bank is planning to digitise a large proportion of its retail and MSME processes in the next six months.
Bank of Baroda tumbles into red with Rs 1,407-cr net loss on higher provisions
Erstwhile Dena and Vijaya banks were merged into BoB effective April 2019 and profit last year has been consolidated to reflect the amalgamated entity.
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Bharti Airtel has submitted conditional bids of around Rs 9,500 crore for RCom's telecom assets.
Bank of Baroda integrates 30,000 employees of Vijaya, Dena Banks in 7 months
To begin with, BoB brought the entire set-up under a four-tier structure that it originally had, created more zones and regions, and adopted a unified reporting structure. “This exercise we did in April helped smoothen the other business processes and systems that had to be aligned,” said Roy.
PNB board to consider Rs 18,000 crore capital infusion this week
It comes against the backdrop of the government's announcement on August 30 about merging 10 public sector banks into four entities
Dena Bank, Vijaya Bank among top losers on BSE
In the Nifty pack, 29 stocks were trading in the green, while 21 stocks were in the red.
Traders expect Vijaya, Dena Bank shares to fall today
The share swap ratio was announced after the stock markets closed on Wednesday.
Cabinet approves the merger of Vijaya Bank & Dena Bank with Bank of Baroda
Dena Bank's shareholders will receive 110 equity shares of BoB of face value Rs 2 for every 1,000 shares they held.
Big bank mergers positive, but anchor lender stocks to take a knock: Analysts
The banking consolidation will result in the merger of 10 banks into 4 banking behemoths.
10 PSBs merger notice this week to create four big lenders
“We are expecting the government to notify the merger this week,” United Bank of India managing director Ashok Kumar Pradhan said. The banks will need to follow regulatory formalities to protect the interest of minority shareholders.
Banks get no respite as Q3 slippages rise
State Bank of India saw its slippages — new bad loans — almost double sequentially to Rs 16,525 crore. Likewise, Axis Bank recognised slippages of Rs 6,214 crore in the December quarter. Kotak Mahindra Bank put new additions in bad loans at Rs 1,062 crore in the third quarter.
BoB shares jump 3% as merger with Vijaya, Dena Bank comes into effect
To make the merger a smooth affair, the government last week decided to infuse Rs 5,042 crore in BoB to enhance its capital base to meet the additional expense.