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After mega-meger, PSBs cross swords over what the new name would be

PW Bureau

If rumours are to be believed, a month after government announced the three-way consolidation of Bank of Baroda (BoB), Dena Banka and Vijaya Bank, the three public sector banks are engaged in a heated discussion over the new name, with the bank heads insisting that the new name carries the name of their bank. The next meeting on October 12 which will see deliberations on the new name is surely going to be uneasy. Sources said that BoB may stake a claim to the name, saying that it has the highest business share among the three and likewise. Of the three banks, Dena Bank has the highest non-performing asset (NPA) ratio of 11.04 percent and a business of merely Rs 1.72 lakh crore. BoB and Vijaya bank, on the other hand, have low NPAs and plump business figures — BoB has 5.4 percent NPA and Rs 10.2 lakh crore worth business and Vijaya Bank has 4.10 percent NPA and a business worth Rs 2 lakh crore.