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List of Mergers & Acquisitions of Bank in India

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.

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.

Click here to attend of Mergers & Acquisitions questions

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 banks Net worth Bank size after amalgamation
Punjab National Bank Oriental Bank of Commerce


United Bank of India

Rs 17.94 lakh crore Second largest bank in India
Canara Bank Syndicate Bank Rs 15.20 lakh crore Fourth largest bank in India
Union Bank of India Andhra Bank


Corporation Bank

Rs 14.59 lakh crore Fifth largest bank in India
Indian Bank Allahabad Bank Rs 8.08 lakh crore Seventh largest bank in India
Bank of Baroda Vijaya Bank


Dena Bank

Rs 16.13 lakh crore Third largest bank in India

Rank of banks after the above amalgamation:

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

Si.No Bank
1 Indian Overseas Bank(IOB)
2 UCO bank
3 Bank of Maharashtra
4 Punjab and Sind Bank
5 Bank of India
6 Central 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 Baroda Rs 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 Name Business size
IDFC Capital First IDFC First Bank Rs 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 Merged Year of Merging happened
State Bank of India Bharatiya Mahila Bank (BMB) 2017
State Bank of India State Bank of Travancore (SBT) 2017
State Bank of India State Bank of Bikaner and Jaipur (SBBJ) 2017
State Bank of India State Bank of Hyderabad (SBH) 2017
State Bank of India State Bank of Mysore (SBM) 2017
State Bank of India State Bank of Patiala (SBP) 2017
Kotak Mahindra Bank ING Vyasa Bank 2014
ICICI Bank Bank of Rajasthan Ltd. 2010


From 2000 to 2009
Name of the Banks Acquired Name of the Banks got Merged Year of Merging happened
HDFC Bank Centurion Bank of Punjab 2008
ICICI Bank Ltd Sangli Bank 2007
Indian Overseas Bank Bharat Overseas Bank 2007
Centurion Bank of Punjab Lord Krishna Bank 2006
Federal Bank Ganesh Bank of Kurandwad 2006
 Nainital Bank Bank of Baroda 2006
IDBI Ltd United Western Bank 2006
IDBI Ltd IDBI Bank 2005
Bank of Punjab(POB) Centurion Bank 2005
Bank of Baroda South Gujarat Local Area Bank 2004
Oriental Bank of Commerce Global Trust Bank 2004
Punjab National Bank Nedungadi Bank Ltd. 2003
ICICI Bank ICICI Ltd. 2002
Bank of Baroda Benares State Bank Ltd. 2002
ICICI Bank Ltd Bank of Madura Ltd 2001
HDFC Bank Ltd. Times Bank Ltd. 2000


From 1990 to 1999
Name of the Banks Acquired Name of the Banks got Merged Year of Merging happened
Bank of Baroda Bareilly Corporation Bank Ltd. 1999
Union Bank of India Sikkim Bank Ltd. 1999
Oriental Bank of Commerce Bari Doab Bank Ltd. 1997
Oriental Bank of Commerce Punjab Co-operative Bank Ltd. 1996
State Bank of India Kashinath State Bank Ltd 1995
Bank of India Bank of Karad Ltd. 1994
Punjab National Bank New Bank of India 1993
 Bank Of India Parur Central Bank Ltd. 1990
Central Bank Of India  Purbanchal Bank Ltd. 1990
Indian Bank Bank of Thanjavur Ltd. 1990
Indian Overseas Bank Bank of Tamilnadu Ltd 1990


Before 1990
Name of the Banks Acquired Name of the Banks got Merged Year of Merging happened
Allahabad Bank United Industrial Bank Limited 1989
Bank of Baroda Traders Bank Ltd 1988
Punjab National Bank Hindustan Commercial Bank Ltd 1986
State Bank of India Bank of Cochin Ltd 1985
Canara Bank Lakshmi Commercial Bank Ltd 1985
Union Bank of India Miraj State Bank Ltd 1985
State Bank of India National Bank of Lahore Ltd 1970
State Bank of India Bank of Bihar Ltd 1969

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