Bank of Baroda (BoB) on Monday became the second largest state-owned lender after merging Dena Bank and Vijaya Bank into it as part of the first three-way amalgamation. The consolidated entity started its operation with a business mix of over 15 lakh crore rupees of balance sheet, with deposits and advances of 8.75 lakh crore and 6.25 lakh crore rupees, respectively.
BoB now has over 9,500 branches, 13,400 ATMs, 85,000 employees to serve 12 crore customers. Meanwhile, BoB completed share allotment to shareholders of Dena Bank and Vijaya Bank as per the scheme of amalgamation. Shareholders of Vijaya Bank got 402 equity shares of BoB for every 1,000 shares held. In the case of Dena Bank, its shareholders received 110 shares of BoB for every 1,000 shares.