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As of March 2019, which is the third largest bank in India according to available information?
Question

As of March 2019, which is the third largest bank in India according to available information?

A.

Indian Bank

B.

Bank of Baroda

C.

ICICI Bank

D.

Canara Bank

Correct option is B

As of March 2019, Bank of Baroda was recognized as the third-largest bank in India. This was primarily due to its merger with Dena Bank and Vijaya Bank, which was finalized in April 2019. The merger significantly increased its customer base, asset size, and national presence, making it one of the largest public sector banks in India, after State Bank of India (SBI) and Punjab National Bank (PNB).

Key points:
● The merger of Bank of Baroda with Dena Bank and Vijaya Bank created a banking entity with increased scale and efficiency.
● It expanded Bank of Baroda's network to over 9,500 branches across India.
● The combined entity holds a prominent position in terms of assets and deposits.
● The bank serves millions of customers, offering a variety of financial services.
● It focuses on retail, corporate, and international banking operations.
● This merger was part of the Government of India's efforts to consolidate the banking sector.

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