Corporation Bank’s board has given its in-principle approval for the merger with Union Bank of India. The board of directors in its meeting held on September 16, 2019 has given in-principle approval for the amalgamation of the Corporation Bank into Union Bank of India.
Earlier on September 9, 2019 Union Bank of India had informed about an in-principle approval of its board for the amalgamation of Andhra Bank and Corporation Bank into it. While, Andhra Bank board on September 13 had given its in-principle approval for the amalgamation of the lender alongside Corporation Bank into Union Bank of India.
Corporation Bank is a Mangalore-based mid-sized public sector bank which was established in 1906.
