Sheeba Kapil Submitted by: It saves us about three years time to market. Then there should be 8 to 10 banks having nationwide presence should concentrate on the national and universal banking services.
The deal, which will give ICICI a sizeable presence in the northwestern desert state of Rajasthan, values the small bank at about 2.
The shareholders of BOR are to reap benefits as their per share value has been valued at Rs. The government has called for consolidation in the banking sector in order to make lenders more competitive but there has been little activity.
Bank of Rajasthan is a listed bank with its corporate office in Mumbai and registered office at Udaipur in Rajasthan.
The Bank of Rajasthan approved the deal, which will be subject to regulatory agreement, earlier on Tuesday. Bank of India BOI Bank of Karad Ltd. It is not for the first time that the idea of merging state-owned banks has gained momentum. In the normal course, it takes about a year to set up branches and then three years for the branches to come up to the kind of deposit levels.
Will this merger also go down as one of the worst deals or will ICICI bank prove analysts and critiques wrong needs to be seen? Headquarter of SBI — Mumbai. Bank of Rajasthan was promoted by Tayals who acquired it almost ten years back. Thus, in a nut shell, it can be said that all is not well with the bank and it was highly mismanaged.
The writing is on the wall and this change merger seems to be inevitable. It values the acquired bank at 2. Thus, the above indicates the pros and cons of this merger but apparently it seems that the arguments against the merger are higher.
While ICICI would benefit out of this, a question may arise in these corporations to continue banking relations with a new generation private bank or switch over to any other public sector bank. Pursuant to these developments, RBI had appointed a new CEO for the bank and, at present, has five nominated directors on its board.
HDFC acquired which of the following bank? In the past few months, the central bank has virtually taken over BoR. Undoubtedly, customers will have rich choice of innovative as well as customized products and corporate customers shall immensely gain out of such products adding to their efficient cash management.
There should be only 3 to 4 large banks which be developed as international banks at the top. Tayal family has been barred by SEBI ti access capital markets and deal in securities. It gives the ability to offer other products to customer base such as different loan products from ICICI Bank and other products.Bank of Rajasthan’s scrip shot up 20% hitting the upper circuit ahead of a board meeting late Tuesday evening to consider a merger of the bank with the country’s largest private sector lender ICICI Bank.
ICICI Bank has entered into an agreement with certain shareholders of Bank of Rajasthan agreeing to effect the amalgamation of Bank of Rajasthan with ICICI Bank with a share exchange ratio of Bank of Rajasthan[Merged] Share Price Today, Bank of Rajasthan[Merged] Stock Price, Bank of Rajasthan[Merged] BSE/NSE Live Share Price, Stock Performance, Stock Quotes, Charts & more on The Economic Times.
PSU bank merger should follow balancesheet clean-up: Raghuram Rajan. Mergers of PSU banks should be done only after balancesheets are cleaned up and these are nursed back to health with adequate capitalisation, said former RBI governor Raghuram Rajan.
About Bank of Rajasthan: The bank of Rajasthan was established as Joint Stock Bank by Mansingka brothers at Udaipur on 8th May, The Bank served The Government of Rajasthan as Scheduled bank for more than 14 years starting from The founder Chairman of Bank of Rajasthan was an industrialist Seth Shri Govind Ram Seksaria who started the bank.
Bank of Rajasthan & ICICI Bank merger: PIL filed in SC urging SEBI to be made accountable; says unfair gains made by promoters of Bank of Rajasthan were.Download