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Detailed explanation-1: -ET PRIME - POPULAR INDUSTRY STORIES. As per the Scheme of Amalgamation, shareholders of Vijaya Bank will get 402 equity shares of BoB for every 1,000 shares held. In case of Dena Bank, its shareholders will get 110 shares for every 1,000 shares of BoB.
Detailed explanation-2: -All customers will now have access to the bank’s digital channels. State-run Bank of Baroda on Sunday said it has completed integration of 3,898 branches of erstwhile Vijaya Bank and Dena Bank with itself. In a first three-way amalgamation, Vijaya Bank and Dena Bank were merged with Bank of Baroda from April 1, 2019.
Detailed explanation-3: -Vijaya Bank and Dena Bank were merged with Bank of Baroda with effect from April 1, 2019. BoB’s customers will now have access to 8,248 domestic branches and 10,318 ATMs across the country.
Detailed explanation-4: -This amalgamation will present Bank of Baroda as the global conglomerate in the banking sector aiming to achieve the higher working efficiency, financial stability and wider operationality. It will not only facilitate national and global outreach but will also integrate public banking sector in India.