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Vijaya Bank [2] [3] [4] was a PSU bank which was merged with Bank of Baroda on 1 April 2019 with its head office in Bangalore, Karnataka, India. It was one of the nationalised banks in India. The bank offered a wide range of financial products and services to customers through its various delivery channels.
Shetty established Vijaya Bank in 1931 at Bunts Hostel in Mangalore. [citation needed] The bank did well, providing job opportunities for thousands of youths and also providing banking service to lakhs of people all over the country. [citation needed] Vijaya Bank is today one of the foremost nationalised banks of India.
Under the terms of the merger, Dena Bank and Vijaya Bank shareholders received 110 and 402 equity shares of the Bank of Baroda, respectively, of face value ₹ 2 for every 1,000 shares they held. The merger came into effect on 1 April 2019. [15] Post-merger, the Bank of Baroda is the third largest bank in India, after State Bank of India and ...
Vijaya Bank was established on 23 October 1931 at coastal city Mangalore by A. B. Shetty and others. The bank was established to help farming community. Later bank grew phenomenally under leadership of Mulki Sunder Ram Shetty during the 1960s. The Vijaya bank was nationalised in the 1980s by Government of India.
He was associated with Vijaya Bank since 1946 and joined the board of directors of the bank as chairman from 1962, became the honorary chairman from 1962 to 1969 resulting in growth of Vijaya bank. [1] and then remained as full-time chairman till 1978. Under the chairmanship of Shri Mulki Sunder Ram Shetty, Vijaya Bank steadily grew into a ...
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At the time of the proposal to merge, the gross NPA ratios of Bank of Baroda, Vijaya Bank and Dena Bank were 12.4%, 6.9% and 22% respectively, [11] and Dena Bank was the weakest among the three in terms of its total business size. [9] The Union Cabinet and the boards of the banks approved the merger on 2 January 2019.