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For Vijaya Bank investors, some 402 equity shares of Rs 2/- each of BOB are converted for every 1000 equity shares of Rs 10/ - each of Vijaya. Bank of Baroda, Vijaya Bank, Dena Bank merger: All you ... ... */ /*-->*/ Click here to read the Mint ePaperMint is now on Telegram. Vijaya Bank was merged with BOB in January 2019. Since the Bank of Baroda share had a face value of ₹2 and the other two, ₹10 … In case you can’t find any email from our side, please check the spam folder. The combined bank will have a geographical reach of more than 9,500 branches, more than 13,400 ATMs with 85,000 employees serving 12 crore customers. BoB closed unchanged at ₹ 119.40, after rising as much as 3.31% during the day. You seem to have an Ad Blocker on. Kotak Institutional Equities said there were a few challenges in estimating the book value of the combined entity as there is more time left for the deal to complete. ... Bank of Baroda said Vijaya Bank shareholders … Please turn it off in order to continue, or whitelist Mint, merger of Vijaya Bank and Dena Bank with Bank of Baroda (BoB), the proposed share swap ratios imply a discount of 30% and 11% to Dena Bank and Vijaya Bank, Vijaya Bank, Dena Bank and Bank of Baroda use the Finacle core banking solution, a planned increase in bank recapitalisation outlay. ... Swap ratio fixed for Vijaya Bank, BoB, Dena Bank merger. New Delhi: After the merger of Bank of Baroda, Dena Bank and Vijaya Bank, the government on Friday, August 30, 2019, unveiled a mega-merger plan under which 10 public sector banks will be amalgamated into four entities. But if they marry one another, their earnings will be in their own account only. As per the filing submitted to the exchanges today, pursuant to the amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda scheme, BoB has issued and allotted equity shares of Rs 52.4 crore to Vijaya Bank shareholders and Rs. The announcement is in line with the government’s aim to consolidate the banking sector as part of the 'alternative mechanism'. If we calculate, the merger of State Bank of India and its associates, a bout 4,000 employees at SBI and associate banks had opted for VRS post merger. At the end of the day, Bank … According to the Reserve Bank of India (RBI), "All the branches of Vijaya Bank and Dena Bank will function as branches of Bank of Baroda from April 1, 2019. The finance minister said during the meet that the employees of all the three banks will not face any adverse service conditions different from their present state and the interest of all the employees will be protected. The government has decided to merger three banks – Bank of Baroda, Dena Bank and Vijaya Bank — to reduce the amount of capital it needs to put into these banks and help clean their balance sheets. 2/- each of Bank of Baroda for every -1000- equity shares of Rs.10/ - each of erstwhile Dena Bank. Day after merger, shares of Dena Bank, Vijaya Bank tank; Bank of Baroda gains The scrip of Dena Bank plummeted 19.77 per cent to Rs 14.40 on BSE. At 2 p.m., stocks of the bank on the BSE were at Rs 134.55 per share, higher by Rs 5.75 or 4.46 per cent from the previous close. The purging of bad loans over the past few years has considerably improved transparency levels, and thus, will pre-empt any post-merger shocks for BoB. You are now subscribed to our newsletters. On the other hand, shares of Bank of Ba After the merger of PSU (public sector units) banks- Dena Bank, Bank of Baroda and Vijaya Bank, your account will not be closed, and you will not lose money. ... Bank of Baroda said Vijaya Bank shareholders will receive 402 shares of BoB for 1,000 shares … The existing employees will now be absorbed into the newly merged entity that will be formed (it is expected to take 4 to 6 months to complete the merger process). Experts largely expect the swap ratio for the banks to be based on prevailing valuations and, thus, they may offer limited arbitrage opportunities. 3.90 at Rs.55.90 on the BSE. Bank of Baroda will become the second largest lender in public sector after its merger with Dena Bank and Vijaya Bank but managing Non-Performing Assets will be critical. BoB closed unchanged at ₹ 119.40, after rising as much as 3.31% during the day. Dena Bank, Vijaya Bank and Bank of Baroda (BoB) have lost nearly $1 billion in market valuation since their bank merger was announced in September. Our calculations show adjusted book value for the merged entity stands at ₹ 80 per share. With the swap ratio now having announced, it would be useful if the incremental capital infusion happens post-merger rather than pre-merger," it said in a note on 3 January. Vijaya Bank was founded in Karnataka's Dakshina Kannada district in 1931 by A B Shetty. As per the filing submitted to the exchanges today, pursuant to the amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda scheme, BoB has issued and allotted equity shares of Rs 52.4 … It said the government could look to infuse capital to meet the regulatory requirements of Dena Bank, which would be a significant negative for the shareholders of BoB as incremental capital is at a significant discount to reported book value. 14 and resistance at Rs.20.4. Share prices of Bank of Baroda declined by more than 17% on Tuesday, a day after the government announced its merger with state-run Dena Bank and Vijaya Bank. Set price, volume and news alerts. Dena Bank, named after its founder … “We look at merged company financials assuming coverage of 65% by first half of FY20 and consolidation of loan book for Dena and Vijaya for FY20," it said in a note on 3 January. More of an administrative call merger, Dena Bank and Dena Bank shareholders received BoB. 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