Bank Mergers

 

• There are a total of 12 Public Sector Banks in India after the Mega-Merger. Among these, there are six merged banks and six independent public sector banks.

  • Merged Banks - SBI, PNB, BoB, Indian Bank, Canara Bank and Union Bank of India

  • Independent Banks - Uco Bank, BoM, Punjab & Sindh Bank, BoI, Central Bank of India, and Indian Overseas Bank. 

• Oriental Bank of Commerce (OBC) and United Bank of India (UBI) are merged into Punjab National Bank. After the merger, the PNB will become the second-largest PSB after SBI.

• Syndicate Bank is merged with Canara Bank and the combined entity will be the fourth largest PSB.

• Allahabad Bank is merged with Indian Bank and all its branches will be treated as the branches of Indian bank.

• Andhra Bank and Corporation Bank is merged with Union Bank of India.