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The Silicon Review Asia

The New Mega Bank of India: Will it Get Customers’ Attention

The New Mega Bank of India: Will it Get Customers’ Attention

A three-way merger had certainly put India in an implausible situation. With the ever-expanding population and diversity,, we see some amazing news every single day. Finally, the time of the hyped “Mega-Bank” is here, where three well-known banks, Vijaya Bank, Bank of Baroda and Dena Bank have finally merged together to form a single entity.  This bank is said to be the second largest public lender after SBI. But in terms of overall bank activity, it will stand 3rd after SBI and HDFC.

This new megabank is said to have a balance sheet of over Rs 15 lakh crore, which is quite a lot as compared to SBI, which has been in the market since the beginning. Furthermore, the deposits of Rs 8.75 lakh crore and advances that is said to be worth Rs 6.25 lakh crore. It is fascinating to see that the combined customers are said to be about 120 million. Also, the present employee count is roughly about 85,000. The branches around are the country is said to be about 9,500 and ATMs 13,400+.

This is really a great move by the three banks, only time will tell how this new mega bank creates a difference in the Indian economy.

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