The Bank of Baroda has become the third largest bank in India. The public sector bank has achieved this position after the merger of Dena Bank and Vijaya Bank with the Bank of Broda. After the merger, It has become the third largest bank in the country after the State Bank of India and HDFC Bank.
The Bank of Baroda will novw have 9,500 branches,13,400 ATM’s and 85,000 employees to cater the need of 12 crore customers. The bank will have a business of 15 lakh crore of the balance sheet with deposits and advances of Rs.8.75 lakh crore and Rs.6.25 lakh crore respectievely.
The bank will have a 22% market share in Gujarat and 8-10%market share in Maharashtra, Karnataka, Rajasthan and Uttar Pradesh,
This is the second merger of public sector banks. Earlier in April 2017, State Bank of India had merged its five associate banks – State Bank of Travancore, State Bank of Mysore, State Bank of Patiala, State Bank of of Hyderabad and State Bank of of Bikanier and Jaipur.
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