‘Bigger BoB deposits over Rs7.5k cr in Vid’

Nagpur: With Bank of Baroda (BoB), Vijaya Bank and Dena Bank becoming a single entity on account of amalgamation of the three from Monday, officials of the financial institutions said the services to customers will continue as usual. Soon, common basic services will be available at branches of all the three banks, they said.
Addressing a press conference, regional heads of the three banks said the amalgamated entity will now emerge as a stronger financial institution. The new bank has total deposits to the tune of over Rs7,500 crore in Vidarbha and advances of around Rs5,000 crore. The consolidated bank has 158 ATMS and 46 branches in the region, they said.

“Now, customers will be able to use ATMs of any of the three banks without any charges,” said Rakesh Kumar, deputy general manager of BoB. He was accompanied by his counterpart from Dena Bank and Vijaya Bank, M Sai Baboo and KC Kotaiya, respectively.

The three banks will now be jointly known as BoB. However, to avoid confusion, the names of the other two banks have not been changed. Rather just a note reads ‘now Bank of Baroda’ below the original names, said the officials.

Even as complete integration of the systems will take another year, in the short-term customers will be able to avail basic services like cash or cheque deposit withdrawal, pass book printing, and RTGS, NEFT at any of the branches of the three banks, they said.

“The consolidated bank will now emerge as the second largest PSU bank in the country. It will now have a reach with over 9,500 branches across the country and over 13,400 ATMs. The total manpower stands at more than 85,000 catering to 120 million customers,” said a press release.