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List of Mergers & Acquisitions of Bank in India

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Hello Aspirants,

We are providing here with some important list of bank mergers and acquisitions in India. These list will help you in upcoming IBPS, SSC and other competitive exams.

Banking Notes - Mergers and Acquisitions

Merger is nothing but amalgamation of two groups into single entity. Merger is a process of combining two business entities under the common ownership. Usually merger occurs when an independent bank loses its charter and becomes a part of an existing bank.

In 1960s, the Indian banking industry had turned into an efficient tool to facilitate the development of the Indian economy. At the same time, it had emerged as a large employer, and a debate had ensued about the nationalization of the banking industry.

In 1969 the Prime Minister Indira Gandhi initiated the process of nationalization of banks. Since then a number of mergers have taken place.

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Bank Merger 2019

The government of India (GoI) has announced for merging of banks in 2019, in-order to revive them from the 6 year low economy due to sudden slowed economic growth.The current finance minister Smt. Nirmala Sitharaman announced for merger of 10 public sector banks into 4.  After the mergers the country will have only 12 public sector banks. The anchor banks for this merger are the  Punjab National Bank, Canara Bank, Union Bank of India and the Indian Bank. Prior to this announcement, in April 2019, Vijaya Bank and Dena Bank (amalgamating banks) were merged into Bank of Baroda

Anchor bank Amalgamating banksNet worth Bank size after amalgamation
Punjab National BankOriental Bank of Commerce


United Bank of India

Rs 17.94 lakh croreSecond largest bank in India
Canara BankSyndicate BankRs 15.20 lakh croreFourth largest bank in India
Union Bank of IndiaAndhra Bank


Corporation Bank

Rs 14.59 lakh croreFifth largest bank in India
Indian BankAllahabad BankRs 8.08 lakh croreSeventh largest bank in India
Bank of BarodaVijaya Bank


Dena Bank

Rs 16.13 lakh croreThird largest bank in India

Rank of banks after the above amalgamation:

Rank Bank
1State Bank of India
2Punjab National Bank
3Bank of Baroda
4Canara Bank
5Union Bank of India
6Bank of India
7Indian Bank
8Central Bank of India
9Indian Overseas Bank
10UCO bank
11Bank of Maharashtra
12Punjab and Sind Bank

The independent PSU banks in 2019: Currently in 2019, there are 6 Public Sector Unit (PSU) banks that remain independent without any merger with other banks. They are

1Indian Overseas Bank(IOB)
2UCO bank
3Bank of Maharashtra
4Punjab and Sind Bank
5Bank of India
6Central Bank of India

Capital infusion in PSU 2019: Finance Minister Sitharaman announced capital infusion in the Public Sector Banks(PSB) with Rs 55,250 Crore of capital in 2019.

Bank Capital infusion
Punjab National Bank Rs 16,000 crore 
Union Bank of India Rs 11,700 crore
Bank of BarodaRs 7,000 crore
Canara bank Rs 6,500 crore
Indian Overseas Bank Rs 3,800 crore 
Central Bank of India Rs 3,300 crore 
Indian Bank Rs 2,500 crore
UCO Bank Rs 2,100 crore 
United Bank of India Rs 1,600 crore
Punjab and Sind Bank Rs 750 crore



Anchor bank Amalgamated bank New NameBusiness size
IDFCCapital FirstIDFC First BankRs 1.03 lakh crore.

IDFC first bank: The non-banking financial company (NBFC) Capital First completely merged with IDFC bank on 18th December 2018 to form the IDFC First Bank. The announcement for the merger was made on 13th January 2018. The IDFC First bank has a loan asset book of Rs 1.03 lakh crore.

  • MD&CEO: V Vaidyanathan, the founder and chairman of Capital First Ltd, has been appointed as the Managing Director(MD) and Chief Executive Officer(CEO) of the newly formed IDFC First bank.

From 2010 to 2017
Name of the Banks Acquired Name of the Banks got MergedYear of Merging happened
State Bank of IndiaBharatiya Mahila Bank (BMB)2017
State Bank of IndiaState Bank of Travancore (SBT)2017
State Bank of IndiaState Bank of Bikaner and Jaipur (SBBJ)2017
State Bank of IndiaState Bank of Hyderabad (SBH)2017
State Bank of IndiaState Bank of Mysore (SBM)2017
State Bank of IndiaState Bank of Patiala (SBP)2017
Kotak Mahindra BankING Vyasa Bank2014
ICICI BankBank of Rajasthan Ltd.2010


From 2000 to 2009
Name of the Banks AcquiredName of the Banks got MergedYear of Merging happened
HDFC BankCenturion Bank of Punjab2008
ICICI Bank LtdSangli Bank2007
Indian Overseas BankBharat Overseas Bank2007
Centurion Bank of PunjabLord Krishna Bank2006
Federal BankGanesh Bank of Kurandwad2006
 Nainital BankBank of Baroda2006
IDBI LtdUnited Western Bank2006
IDBI LtdIDBI Bank2005
Bank of Punjab(POB)Centurion Bank2005
Bank of BarodaSouth Gujarat Local Area Bank2004
Oriental Bank of CommerceGlobal Trust Bank2004
Punjab National BankNedungadi Bank Ltd.2003
ICICI BankICICI Ltd.2002
Bank of BarodaBenares State Bank Ltd.2002
ICICI Bank LtdBank of Madura Ltd2001
HDFC Bank Ltd.Times Bank Ltd.2000


From 1990 to 1999
Name of the Banks AcquiredName of the Banks got MergedYear of Merging happened
Bank of BarodaBareilly Corporation Bank Ltd.1999
Union Bank of IndiaSikkim Bank Ltd.1999
Oriental Bank of CommerceBari Doab Bank Ltd.1997
Oriental Bank of CommercePunjab Co-operative Bank Ltd.1996
State Bank of IndiaKashinath State Bank Ltd1995
Bank of IndiaBank of Karad Ltd.1994
Punjab National BankNew Bank of India1993
 Bank Of IndiaParur Central Bank Ltd.1990
Central Bank Of India Purbanchal Bank Ltd.1990
Indian BankBank of Thanjavur Ltd.1990
Indian Overseas BankBank of Tamilnadu Ltd1990


Before 1990
Name of the Banks AcquiredName of the Banks got MergedYear of Merging happened
Allahabad BankUnited Industrial Bank Limited1989
Bank of BarodaTraders Bank Ltd1988
Punjab National BankHindustan Commercial Bank Ltd1986
State Bank of IndiaBank of Cochin Ltd1985
Canara BankLakshmi Commercial Bank Ltd1985
Union Bank of IndiaMiraj State Bank Ltd1985
State Bank of IndiaNational Bank of Lahore Ltd1970
State Bank of IndiaBank of Bihar Ltd1969