The Government may facilitate merger of Dena Bank with Canara Bank, which would create an entity with expected business of around Rs.5 lakh crore in current fiscal.
Two days after finance ministry officials met heads of five PSU Banks over the issue of consolidation, Dena Bank Chairman and Managing Director met the additional secretary, finance. It is learnt that they have discussed consolidation among other issues.
If the consolidation goes through, Canara Bank, which has a network of 2960 branches will have a strong presence in Maharashtra, Gujarat and Chattisgarh with 1100 branches of Dena Bank.
Source: http://www.thehindubusinessline.com/businessline/blnus/17221306.htm
CANARA, DENA BANKS MAY TAKE CONSOLIDATION FORWARD
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