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Dena Bank Board Clears Merger Proposal With Bank Of Baroda

Tuesday, September 25, 2018, 8:20 AM

State-run Dena Bank's board cleared a proposal suggesting a merger with two other state-run banks, Vijaya Bank and Bank of Baroda. The government had last week suggested a merger of the three banks to create the country's second largest state-run bank, after SBI. If the merger takes place, the number of government-run banks will be reduced to 19.
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Not A Bailout, Says Dena; Will Not Be Drag, Assures Vijaya Bank

Wednesday, September 19, 2018, 1:35 PM

Dena Bank has said the government's proposal to merge it with Vijaya Bank and Bank of Baroda "is not a bailout package". "Dena Bank is very strong across Gujarat, Maharashtra, and Chattisgarh, Vijaya Bank is strong in the south," it added. Dena has a gross bad loan ratio of 22% compared to Vijaya Bank's 6.9% and Bank of Baroda's 12.4%.
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Merger of Banks to improve efficiency, governance: Moody's

Tuesday, September 18, 2018, 11:43 AM

Moody's Investors Service on Tuesday said the plan to merge Bank of Baroda, Vijaya Bank and Dena Bank will be credit positive as it would improve their efficiency and governance for the banks. Moody's said BoB and Vijaya Bank have relatively better credit metrics than Dena Bank in terms of asset quality, capitalisation and profitability.

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