Market Buzz – Mergers of SyndicateBank, Punjab National Bank and Indian Overseas Bank

After amalgamation of Public Sector Bank i.e. Vijaya Bank and Dena bank with Bank of Baroda, the government is closely watching how the Bank of Baroda-Vijaya Bank-Dena Bank merged entity is working out. Sources said some other combinations are already in process but since to proceed on concrete proposals, it needs the approval of the government panel on bank mergers, no movement can take place.

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Market buzz says the Punjab National Bank, the Syndicate Bank, and the Indian Overseas Bank are in various permutations and combinations of a merger likelihood at an informal level of discussion among themselves and with other banks.

The new Central government will undertake a thorough review of the public sector banks (PSBs) soon after taking office.  It was held due to announcement of elections, it has been decided to hold the review meeting of banks only after a new government is in place.

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The review will study plans for the recapitalization of banks besides taking note of their NPA (non-performing assets) recovery target as well as the next merger exercise.

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