New Delhi: Union Finance Minister Nirmala Sitharaman on Friday announced the merger of 27 public sector banks into 12, the biggest being the merger of Punjab National Bank, Oriental Bank of Commerce and United Bank. The three banks together will merge to form India’s second largest bank after the State Bank of India, with Rs 17.95 lakh crore business and 11,437 branches.
Here’s a list of the public sector banks after amalgamation in the descending order of their business size:
1. State Bank of India - Rs 52.05 lakh crore
2. PNB + OBC+ United Bank of India - Rs 17.94 lakh crore
3. Bank of Baroda (including Vijaya and Dena) - Rs 16.13 lakh crore
4. Canara Bank + Syndicate Bank - Rs 15.20 lakh crore
5. Union Bank + Andhra Bank + Corporation Bank - Rs 14.59 lakh crore
6. Bank of India - Rs 9.03 lakh crore
7. Indian Bank + Allahabad Bank - Rs 8.08 lakh crore
8. Central Bank of India - Rs 4.68 lakh crore
9. Indian Overseas Bank - Rs 3.75 lakh crore
10. UCO Bank - Rs 3.17 lakh crore
11. Bank of Maharshtra - Rs 2.34 lakh crore
12. Punjab & Sind Bank: Rs 1.71 lakh crore
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