PNB, UBI, OBC merger: Outside expert may be roped in to decide logo of new entity

KOLKATA: With three state-run lenders — Punjab National Bank (PNB), United Bank of India (UBI) and Oriental Bank of Commerce (OBC) — heading for an amalgamation, an outside expert may be engaged to decide the logo of the merged entity, an official said. The proposed merger, expected to be effective from April 1 next year, … Read morePNB, UBI, OBC merger: Outside expert may be roped in to decide logo of new entity

Punjab National Bank Merged Entity To Become Operational From April 1

The government announced the merger of PNB with United Bank and Oriental Bank of Commerce last month Kolkata:  The merger of state-run lenders Punjab National Bank (PNB), United Bank of India (UBI) and Oriental Bank of Commerce (OBC) will come into effect from April 1 next year, a top official said on Saturday. The merged … Read morePunjab National Bank Merged Entity To Become Operational From April 1

IT and HR synergy are key challenges for PNB-OBC-UBI merger

KOLKATA: Integration of technology platform will remain the key challenge for the merger of Punjab National Bank, Oriental Bank of Commerce and United Bank of India, senior executives of these banks said, even as the government has selected the merger partners on the basis of their IT compatibilities rather than geographical synergy. Harmonising human resource … Read moreIT and HR synergy are key challenges for PNB-OBC-UBI merger

PNB puts up for sale 11 NPA accounts to recover dues of Rs 1,234 crore

NEW DELHI: State-owned Punjab National Bank (PNB) has put up for sale nearly a dozen non-performing assets (NPA) to recover dues of more than Rs 1,234 crore. The lender has invited bids from asset reconstruction companies (ARCs)/ NBFCs/ banks/ financial institutions for 11 NPA accounts. The accounts include Visa Steel, which has irrecoverable dues of … Read morePNB puts up for sale 11 NPA accounts to recover dues of Rs 1,234 crore

PNB’s Board To Meet Soon On Merger With Oriental Bank, United Bank

New Delhi:  Punjab National Bank (PNB) will soon hold a board meeting to consider its amalgamation with Oriental Bank of Commerce and United Bank of India. The bank has received a communication from the Ministry of Finance that the alternative mechanism after consultation with Reserve Bank of India (RBI) has decided that Punjab National Bank, … Read morePNB’s Board To Meet Soon On Merger With Oriental Bank, United Bank

Fresh capital may not help banks exit PCA immediately

KOLKATA: Central Bank of India, Indian Overseas Bank and Uco Bank may not exit the prompt corrective action (PCA) framework immediately despite the proposed capital infusion by the government as the size of capital would not cover their requirement, experts in the field said. They may also tend to use most of the new capital … Read moreFresh capital may not help banks exit PCA immediately

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