BoB Completes Migration of erstwhile Dena and Vijaya Banks BANK NEWS

 

 

New Delhi: Bank of Baroda, the country’s third-largest public-sector bank (PSB) by assets, has completed Integration / Migration of 3898 branches of erstwhile Vijaya Bank and Dena Bank with itself. The Bank has completed the integration of 1770 erstwhile Dena Bank Branches in December 2020 and had earlier completed the integration of 2128 erstwhile Vijaya Bank Branches in September 2020. With this, the integration of erstwhile banks with Bank of Baroda stands completed much before the committed timeline.
 
The merger is one of its kind at this scale. Over 5 crore customer accounts were migrated. In addition to branches, all ATMs, POS machines and credit cards have been migrated successfully. Post the successful integration, all customers now have access to a total of 8248 domestic branches and 10318 ATMs Pan India, which will provide them complete access to the entire suite of products and service offerings of Bank of Baroda. Further, all customers will now have access to state of art Bank of Baroda Digital Channels such as Baroda Connect, M-Connect Plus, which are friendly, easy-to-use, and have branch-like features. They can enjoy banking services from the comfort of their home.
 
Customers whose accounts have been migrated are requested to get any information regarding their accounts such as account number, IFSC code using any digital channels or call center, or any branch. Debit Cards already issued to customers by erstwhile Banks will continue to function until the stipulated expiry of the Card.
 
Speaking on the timely completion of Integration, Shri. Sanjiv Chadha, MD & CEO said, "We are pleased to inform you that we have successfully completed full Integration of erstwhile Banks with Bank of Baroda amidst the challenges faced under the COVID environment. We are happy to once again welcome all our esteemed customers and request them to avail full suite of Bank of Baroda products and digital solutions. With the successful integration, the Bank is well poised to derive and consolidate the benefits arising from this amalgamation of the three Banks, apart from driving synergies.
 
We sincerely place on record our gratitude to all our stakeholders especially to all our esteemed customers and look forward to their patronage.
 
About Bank of Baroda:
Bank of Baroda (“The Bank”) established on 20th July 1908 is a State-owned banking and financial services organization, headquartered in Vadodara (earlier known as Baroda) in Gujarat, India.
 
Bank of Baroda is India’s leading public sector bank with a strong domestic presence supported by self-service channels. The Bank’s distribution network includes 8,200+ branches, 10,000+ ATMs, 1,200+ self-service e-lobbies and 18,000 Business Correspondents. The Bank has a significant international presence with a network of 100 branches/offices of subsidiaries, spanning 20 countries.
 
The Bank has wholly-owned subsidiaries including BOB Financial Solutions Limited (erstwhile BOB Cards Ltd.), BOB Capital Markets, and Baroda Asset Management India Ltd. Bank of Baroda also has joint-ventures for life insurance viz. IndiaFirst Life Insurance Company Limited and India Infradebt Ltd., engaged in infrastructure financing. The Bank owns 98.57% of The Nainital Bank. The Bank has also sponsored three Regional Rural Banks namely Baroda Uttar Pradesh Gramin Bank, Baroda Rajasthan Gramin Bank, and Baroda Gujarat Gramin Bank.


Posted Date :  26-12-20

Categories : BANK NEWS

Tag Cloud: BANK NEWS

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