No proposal for merger of Canara, Dena Bank: Finance Ministry

The Finance Ministry today said that there is no proposal for merger of four public sector banks, including Canara Bank, and Dena Bank.Last year, five associates and the Bharatiya Mahila Bank were merged with State Bank of India (SBI), catapulting the country's largest lender to among the top 50 banks in the world.

Last year, five associates and the Bharatiya Mahila Bank were merged with State Bank of India (SBI), catapulting the country's largest lender to among the top 50 banks in the world.

With the merger, the total customer base of the bank will reach 37 crores with a branch network of around 24,000 and nearly 59,000 ATMs across the country.

The government had in February, 2017, approved the merger of these five associate banks with SBI. Later in March, the Cabinet approved merger of BMB as well.

SBI first merged State Bank of Saurashtra with itself in 2008. Two years later, State Bank of Indore was merged with it.