Andhra Bank
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Mega-merger of PSU banks on schedule: 6 banks cease to exist from today; experts say exercise will not be smooth, seamless
Fp Staff •Experts said bank merger at this point of time will not be very smooth and seamless. However, heads of the anchor banks are exuding confidence.
10 State-owned banks announce share swap ratios for mergers with nearing of March-end deadline
•The Union Cabinet on Wednesday had okayed the amalgamation of 10 public sector banks to create four large state-owned lenders with effect from 1 April, 2020
Mega bank consolidation: Meeting 1 April deadline appears challenging with approvals, clearances still pending
•According to a senior banker, information technology integration of Vijaya Bank and Dena Bank with Bank of Baroda is still in process even after 10 months of merger.
PSU bank consolidation: PNB, Union Bank get in-principle nod from govt for proposed merger
•Punjab National Bank and Union Bank of India on Monday said they have received in-principal approval from the government for their amalgamation with other public sector banks
Total of 34 functional teams to smoothen bank merger of UBI, PNB, OBC; to come into force on 1 April
•The complete harmonisation among the three entities would take another 12 to 14 months after the merger
Union Bank board okays merger of Andhra, Corporation Bank with itself; clears Rs 17,200-cr capital infusion
•Union Bank of India on Monday said its board of directors has approved the merger of Andhra Bank and Corporation Bank with itself and given nod for a capital infusion of Rs 17,200 crore in the current financial year
Finance Minister Nirmala Sitharaman says Centre will respond to challenges faced by all sectors
•Union Finance Minister Nirmala Sitharaman on Friday said the government will respond to the challenges faced by all the sectors.
Union Bank of India board meet on 9 September to approve amalgamation of Andhra Bank, Corporation Bank with itself
•State-owned Union Bank of India on Wednesday said its board will meet on 9 September to approve amalgamation of Andhra Bank and Corporation Bank with itself
Mega merger woes: Bank officers associations to meet in Delhi today, will decide on future course of action
•Besides, Indian Bank will be merged with Allahabad Bank, making it the seventh-largest state-owned bank. Andhra Bank is the second city-based bank which will lose its geographical identity.
Mega merger: PNB, Canara, Union, Indian Bank shares feel heat on bourses post-amalgamation; what is the shareholder thinking?
Dinesh Unnikrishnan123 •For better understanding, let’s look at the share movement of the acquiring banks or the anchor banks involved in the merger process.