Bank Amalgamation 2019

  • Finance Ministry announced Amalgamation of Nationalised bank in Aug 2019.
  • After merger, total nationalised bank is 18 nos. In 2017 , there were 27 nationalised bank. In 2019 merger 10 banks merged to form 4 banks.
  • 1. PNB + Oriental Bank of Commerce + United Bank
        • 2nd largest PSB with business of ₹ 17.95 lakh crore
        • 2nd largest branch network in India, with 11,437 branches
        • Employees 1,00,649 nos.
  • 2. Canara Bank + Syndicate Bank
      • 4th largest PSB with business of ₹ 15.20 lakh crore
      • 3rd largest branch network in India, with 10,342 branches
      • Employees 89,885  nos
  • 3. Union Bank + Andhra Bank + Corporation Bank
      • 5th largest PSB with business of ₹ 14.59 lakh crore
      • 4th largest branch network in India, with 9,609 branches
      • Employees 75,384
  • 4. Indian Bank + Allahabad Bank
      • 7th largest PSB with business of ₹ 8.08 lakh crore
      • Nationwide presence with strong networks in the South, North and East