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    No reduction in number of branches post-merger with Bank of Baroda, says Dena Bank

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    No reduction in number of branches post-merger with Bank of Baroda, says Dena Bank

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    The proposed merger of Bank of Baroda, Vijaya Bank and Dena Bank will not results into reduction of bank branches, said Karnam Sekar, MD and CEO Dena Bank

    The proposed merger of Bank of Baroda, Vijaya Bank and Dena Bank will not results into reduction of bank branches, said Karnam Sekar, MD and CEO Dena Bank. “Branch reduction may not be there because we have done a detailed exercise geography wise and we have already completed 4-5 geographies; maybe 1 or 2 excess branches we may relocate but closure or reduction number of branches will not be there,” he told CNBC-TV18.
    Talking about merger, he said, “Once the amalgamation was announced all the 3 banks (Dena Bank, Vijaya Bank and Bank of Baroda), of course Vijaya Bank do not have much exposure to corporate, but all 3 of us sat together and we have done harmonization of provisions.”
    “Classification wise there is no issue but there were some differences in provisioning. We have adjusted those provisioning difference in December ’18 quarter. So percentage provision for all the common assets is at the same level now, so that disparity will not be there going forward,” he added.
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