Bank of Baroda is targeting to set 30 November as the record date for the acquisition of Dena Bank and Vijaya Bank. The bank’s MD and CEO P. Jayakumar said the discussions are progressing and broadly 30 November should be the date for the share swap after finalizing the ratio. The boards of the 3 banks have already approved the merger and as per plans, Bank of Baroda, the largest among the 3, will acquire the other 2 and the merged entity is expected to be the 3rd largest bank in India and 2nd largest public sector bank after State Bank of India with total loan loans and deposits of more than Rs 14.82 lakh crore.
