homefinance News

This is the new pecking order of India’s public sector banks after government’s mega merger

This is the new pecking order of India’s public sector banks after government’s mega merger

This is the new pecking order of India’s public sector banks after government’s mega merger
Profile image

By CNBC-TV18 Aug 30, 2019 6:21:43 PM IST (Updated)

The government announced a mega merger of public sector banks and massive cash infusion, saying these moves were required to strengthen India’s banking system.

The government announced a mega merger of public sector banks and massive cash infusion, saying these moves were required to strengthen India’s banking system.

Recommended Articles

View All

With 10 public sector lenders merged into four, India’s public sector banking landscape has undergone a radical change.
In terms of business size, this is how the new pecking order of banks in India will be:
1. State Bank of India: Rs 52.05 lakh crore.
2. Punjab National Bank + Oriental Bank of Commerce + Union Bank of India: Rs 17.94 lakh crore.
3. Bank of Baroda (including Vijaya Bank and Dena Bank): 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.
Figures as of March 2019
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

Top Budget Opinions

    Most Read

    Market Movers

    View All
    Top GainersTop Losers
    CurrencyCommodities
    CompanyPriceChng%Chng