New Delhi: Union Bank on Wednesday said it has become the country’s fifth-largest public sector lender after amalgamating Andhra Bank and Corporation Bank into itself.The merger, effective from Wednesday, will harness rich individual legacies and forge a dynamic shared future, it said in a release.”As of today, all employees, customers and branches of Andhra Bank and Corporation Bank will become part of the Union Bank of India family,” it added. The amalgamation will also strengthen the bank”s footprint in southern India with a considerable market share in this region, the Mumbai-headquartered lender said.The amalgamation is also expected to generate cost and revenue synergies to the…
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Union Bank becomes 5th largest PSB post-merger with Andhra Bank, Corporation Bank
