As the three nationalised banks, Bank of Baroda, Dena Bank and Vijaya Bank merged to form the second largest public sector bank in the country, the unified management Monday said it would benefit customers, as well as employees in a big way.
Bangalore:
Vijaya Bank was founded in Karnataka's Dakshina Kannada district in 1931 by A B Shetty.
Dena Bank, named after its founder Devkaran Nanjee, came into being in 1938 in Mumbai.
The consolidated bank, which went into effect from Monday, will be the second largest public sector bank in the country having wider geographical reach with 9,500 plus branches, the bank officials said.
It would have more than 13,400 Automated Teller Machines and above 85,000 employees to serve over 120 million customers, said the officials at a press conference here to share details about the merger.
"The 120+ million customers will experience superior banking services and benefit from wider product range including cash management solution, supply chain financing, financial planning, wealth management," said Birendra Kumar, general manager of Bank of Baroda zonal office here.
Kumar added that the employees will benefit from the diverse opportunities.
"The service conditions of the employees will not be impacted and the interests of employees will be fully protected.
The best of HR practices adopted by each of the banks will be examined for adoption," Kumar said.
All the hiccups will be overcome within 12 to 18 months, said the bank officials.
Bank of Baroda was established in July 20, 1908 in erstwhile Baroda, now known as Vadodara in Gujarat.