MUMBAI: Union Bank may look at exiting Andhra Bank’s life insurance venture post amalgamation of the two lenders, according to a senior official.A final decision will be taken by the board of the merged bank, based on the valuation and also meeting the regulatory guidelines, Union Bank Managing Director and Chief Executive Rajkiran Rai G has said.Andhra Bank and Corporation Bank will get amalgamated into Union Bank on April 1, making it the fifth largest public sector bank in the country.The merger is part of the government’s mega consolidation plan to amalgamate 10 state-owned banks to create four global size lenders, beginning next financial year.Following the merger, all investments…
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Post merger, Union Bank may sell Andhra Bank’s stake in life insurance
