Union Bank Open To Mergers, May Announce Tie-Up In Asset Management Space

With the PSBs actively looking forward to consolidating with peers, State owned Union Bank of India too may soon get into a merger.

Further, the government’s inclination towards having a few large banks than many small ones, the consolidation buzz has zoomed. Especially as the government is actively trying to resolve the NPA issues.

Even as the Union Bank of India and Dena Bank merger talks died with Union Bank of India’s MD Arun Tiwari deny it, Tiwari revived the buzz with his statement in the post results press conference. Tiwari expressed his happiness with Union Bank of India being an acquiring bank and conveyed complete interest in a merger.  

The outgoing MD, also stated that the government has directed them to proceed with mergers themselves.  However, it is expected that Union Bank will soon announce a tie up in the asset management segment.

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About Suhani Varma

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