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Vijaya And Dena Bank To Continue Using Logos Post Merger

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The current logos of the two banks i.e. Dena Bank and Vijaya Bank will be retained for some more time, despite the two banks amalgamating with a bigger PSU bank entity i.e. Bank of Baroda. The logo of Dena Bank is the Goddess of Lakshmi while that of Vijaya Bank is A man bowing humbly with his hands in his pockets.

Vijaya And Dena Bank To Continue Using Logos Post Merger
 

The two banks will be merged with Bank of Baroda from April 1, 2019.

Also, the 2 banks will bear the 'Now - Bank of Baroda' sticker to reflect the change in status from the earlier entity.

According to the Government's Gazette Notification issued on January 2, upon amalgamation of the transferor bank 1 (Vijaya Bank) and the transferor bank 2 (Dena Bank) with the transferee bank (BoB), the surviving entity being the transferee bank shall be known as Bank of Baroda.

As per the finance ministry issued statement, the first-ever three-way amalgamation of PSU banks will result in a better entity that will be able to meet the credit demand of the growing economy. Also, the new bank will be resourceful enough to absorb macro shocks such as bad loans etc.

GoodReturns.in

Story first published: Saturday, March 30, 2019, 15:15 [IST]
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