Indian Bank to merge 325 branches

‘Move to trim cost, improve service’

September 29, 2020 10:50 pm | Updated 11:14 pm IST - Chennai

Indian Bank would be amalgamating more than 325 branches that would not only help reduce cost but also provide better services to the customers, said M.K. Bhattacharya, executive director (ED), Indian Bank.

Indian Bank would be amalgamating more than 325 branches that would not only help reduce cost but also provide better services to the customers, said M.K. Bhattacharya, executive director (ED), Indian Bank.

Consequent to the amalgamation of Allahabad Bank with Indian Bank, the latter plans to merge over 300 branches of the former with itself, said a top official.

Indian Bank would be amalgamating more than 325 branches that would not only help reduce cost but also provide better services to the customers, said M.K. Bhattacharya, executive director (ED), Indian Bank. On Tuesday, Indian Bank ED V. Shenoy Vishwanath opened one of the amalgamated branches in Chennai. He said so far, Indian Bank had amalgamated eight branches in the city and 33 branches pan India.

The amalgamation of Allahabad Bank with Indian Bank came into force on April 1, 2020.As of December 2019, both the banks had overmore than over 6,000 branches and post- amalgamation, they would come down to 5,700 branches.

Indian Bank has strong presence in the South and Allahabad Bank in the North and East.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.