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Bank of Baroda doubles minimum balance limit for savings account
Posted on 10th January 2019
New Delhi: Bank of Baroda (BoB) will be increasing the minimum quarterly average balance that has to be maintained in its advantage savings account. “With effect from 1 February, 2019 the minimum quarterly average balance in Baroda advantage savings account will be updated,” BoB said in a tweet. For metro, urban and semi-urban branches, the bank has doubled the minimum quarterly average balance. However, there is no change for such accounts in its rural branches.

Bank of Baroda shares rally; Vijaya Bank, Dena Bank stocks plunge after merger swap ratio announcement
Posted on 3rd January 2019
After the mega PSU bank merger between Bank of Baroda, Vijaya Bank and Dena Bank received Union Cabinet approval yesterday, shares of BoB rallied while the other two lenders tanked in the morning trade on Thursday, as investors reacted to the merger swap ratio. Shares of Bank of Baroda rallied more than 3% to Rs 123.40 on NSE while, Vijaya Bank shares plunged by nearly 7.5% to hit the day’s low at Rs 51.05. Dena Bank shares tanked by 20% to Rs 14.40 in the morning trade.

BoB sets share swap ratio for merger with Vijaya, Dena banks
Posted on 2nd January 2019
New Delhi: Bank of Baroda (BoB) on Wednesday finalised the share swap ratio for merger of Vijaya Bank and Dena Bank with itself. As per the Scheme of Amalgamation, shareholders of Vijaya Bank will get 402 equity shares of BoB for every 1,000 shares held. In case of Dena Bank, its shareholders will get 110 shares for every 1,000 shares of BoB.

BoB, Dena, Vijaya Bank to start operations from April 1
Posted on 29th November 2018
New Delhi: The second big merger of state lenders by the Narendra Modi government will be completed this financial year and the merged bank will start operations from the new fiscal.

Sources said the share swap ratio for the merger of Dena Bank and Vijaya Bank with the larger bank Bank of Baroda will be decided next month and the merged entity will kick off operations from April 1, 2019.

Bank of Baroda to put 35 NPAs up for sale to recover Rs 4,237-cr dues
Posted on 22nd November 2018
Bank of Baroda has proposed to put 35 non-performing assets (NPAs) up for sale, including several ailing power assets, to recover dues worth Rs 4,237 crore and has invited expressions of interest from asset reconstruction companies (ARCs) and financial institutions (FIs). In a notification on its website, the bank said, “Besides the amount outstanding under any disbursed loans

Bank of Baroda, Vijaya Bank, Dena Bank set 15 December deadline to decide on share swap ratio
Posted on 14th November 2018
Mumbai: State-owned Vijaya Bank, Dena Bank and Bank of Baroda have set 15 December as the deadline to agree a preliminary share swap ratio for the combined entity, said Sankara Narayanan, managing director and chief executive officer, Vijaya Bank.

On 10 September, the government proposed to merge the three state-owned banks.

SBI, Yes Bank, Bank of Baroda credit card users are at risk of cyber fraud: Details inside
Posted on 25th October 2018
If you often use mobile banking and are customers of any of the following banks then you are at risk of cyber fraud. An IT security firm in its report has claimed that the fake apps of State Bank of India, ICICI Bank, Axis Bank, Bank of Baroda (BoB), Yes Bank, Indian Overseas Bank (IOB) and Citi Bank are available on Google Play. The report further claimed that the fake apps have stolen data of many bank customers.

Govt extends Jayakumar's term as Bank of Baroda's MD & CEO by a year
Posted on 12th October 2018
The government on Thursday extended the term of P S Jayakumar as the managing director and chief executive officer of Bank of Baroda by another year till October 12, 2019. His three-year term was to end on Friday.

The extension is being seen as an important move aimed at steering the proposed merger of Bank of Baroda (BoB), Vijaya Bank and Dena Bank. The boards of the three public sector banks have already given the nod for the merger proposal.

BoB-Vijaya-Dena Bank merger shows Modi government’s willingness to pursue banking sector reforms: Fitch
Posted on 28th September 2018
The proposed merger of Bank of Baroda (BoB) with two mid-sized PSU lenders shows the willingness of the government to go ahead with difficult reforms in the banking sector, Fitch Ratings said Friday. The government had last week announced its plan to merge BoB with Vijaya Bank and Dena Bank to create the third largest bank in the country. The boards of each bank will meet to give a go-ahead to the proposed merger.

Bank of Baroda, Dena Bank, Vijaya Bank merger stuns market; listed banks lose Rs 20,000 crore in market value
Posted on 19th September 2018
India’s plan to merge state-controlled lenders as a way to resolve its bad-debt issue didn’t thrill investors. The proposed union of Vijaya Bank and Dena Bank with Bank of Baroda fanned speculation of further consolidation in the sector. While some state-run lenders rose on Tuesday, most fell on concerns about eroding capital buffers and growing bad debt for buyers. Overall, the 22 banks listed on Indian stock exchanges lost about 203 billion rupees ($2.8 billion) of market value.

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