Dena Bank board okays merger with Bank of Baroda, Vijaya Bank
Updated : September 25, 2018 06:27 AM IST
Dena Bank has a total business size of Rs 1.73 lakh crore and is also under the Prompt Corrective Action (PCA) framework of the Reserve Bank of India (RBI) on account of its high non-performing assets (NPAs), or bad loans, which for the Indian banking system as a whole have crossed the staggering level of Rs 10 lakh crore.
The government said the amalgamated entity will have a net NPA ratio at 5.71 per cent, which is significantly better than the public sector banks' (PSBs) average of 12.13 percent, and declining further.
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