With the on-set of new financial year from Monday, the merger of Dena Bank and Vijaya Bank in Bank of Baroda (BOD) becomes effective. With the consolidated strength of 40 branches, BOB becomes the third largest bank of the district. On the occasion of merger, Diwakar P. Singh, DGM and Indore Region head of Band of Baroda, informed media here on Monday that as part of the nationwide major development, the amalgamation of Vijay Bank and Dena Bank into BOB becomes effective in the region also from the day.
In Indore Region, which includes 16 districts, the total number of branches of BOB has gone to 137 including 27 of Dena Bank, 20 of Vijaya Bank and 90 of BOB. Senior banker Singh said that from very early the BOB is advanced in offering the best in class technology banking services to its customers.
The customers of the Dena Bank and Vijaya Bank will now be eligible to take advantage of same quality of services. Highlighting the loan services of the BOB, Singh said, “at the regional level in the city, we have Specialized Mortgage Scheme (SMS) for traders, housing loan seekers, where loans up to Rs 25 lakh are processed. For the SME units we have seprate SME Loan Factory. For the credit cards, we have our own subsidiary company BOB FSL.
Mukesh Bhatt, Lead District Manager (LDM) of the district informed that presently in the district Dena Bank has 6 branches, Vijaya Bank 7 and BOB 27. In this manner, after the merger of Vijaya Bank and Dena Bank in BOB with total number of branches of BOB has gone to 40. After 108 branches of SBI and 66 of Bank of India, with the 40 branches, Bank of Baroda becomes the third largest bank of the district.
