‘Merger process expected to complete by March 2020’

HR and IT are the key issues, says Canara Bank MD & CEO

August 30, 2019 10:02 pm | Updated September 03, 2019 08:26 pm IST - Mumbai

R.A. Sankara Narayanan.

R.A. Sankara Narayanan.

The merger process of 10 public sector banks is expected to be completed by March 31, 2020.

“March 31 could be the timeline for all the approvals. Technically it is possible to roll out on April 1,” said R.A. Sankara Narayanan, MD & CEO, Canara Bank, which will be merged with Syndicate Bank.

Mr. Narayanan is the only CEO who would have executed two public sector bank mergers in one year. Earlier, he was the MD and CEO of Vijaya Bank.

The Bank of Baroda-Dena Bank-Vijaya Bank merger, which was announced on September 17, 2018, was completed by March 31, 2019.

On the current merger, Mr. Narayanan said the integration of human resources (HR) and information technology (IT) were the key issues for a successful merger.


“HR integration without retrenchment…without losing any quality or motivation is the first thing,” he said.

Canara Bank has an employee strength of 58,350, while Syndicate Bank has 31,535.

“Another thing is IT. It must be well planned and executed. If that happens, then the process is through. These are the two major issues — HR and IT,” Mr. Narayanan said.

He also added there would not be any branch closure in the near future though Canara and Syndicate had a strong presence in south India.

“Not immediately [branch rationalisation]. Even in the previous merger, there was no closure of branches or loss of opportunity. Even if two branches are doing well in one street or in a building, why should we close them? Our aim is to improve on overall parameters,” he added.

Top News Today


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.