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Dena Bank expects merger with Bank of Baroda in 6 months

Updated : November 01, 2018 06:20:07 IST

After reporting two-fold jump in its net loss to Rs 416.70 crore in the second quarter ended September 2018, state-owned Dena Bank on Wednesday said it expects merger with Bank of Baroda in six months.

In an interview to CNBC-TV18, Karnam Sekar, managing director and chief executive officer, said National Company Law Tribunal (NCLT) exposure for Dena Bank as a whole would be in the range of Rs 9,000 crore and out of that,  bank expects Rs 2,000-2,500 crore would happen in next two months.

On business front, Sekar said, "As we are restrained from lending, Dena Bank is focusing mainly on two areas; one is non-performing assets (NPA) reduction and second is current account and saving account (CASA) improvement."
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