Industry

Indian Bank to merge 325 branches

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.

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Printable version | Oct 23, 2020 10:23:16 AM | https://www.thehindu.com/business/Industry/indian-bank-to-merge-325-branches/article32726370.ece

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