Bank of Baroda has turned out to be a third largest lender after merger of Dena Bank and Vijaya Bank with itself. According to the Scheme of Amalgamation, shareholders of Dena Bank will get 110 shares of BoB for every 1,000 shares, while Vijaya Bank’s shareholder will get 402 equity shares of BoB for every 1,000 shares. As a result, branches of Dena Bank and Vijaya Bank will function as BoB outlets from April 1 onwards.
The bank will have a business mix of Rs 15 lakh crore of balance sheet, with deposits and advances of Rs 8.75 lakh crore and Rs 6.25 lakh crore, respectively.
Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services.
