Over the past five years, the Indian banking sector has witnessed significant consolidation through mergers, aimed at creating stronger and more efficient banks.

List of Bank Mergers in India

Here is a list of major bank mergers that have taken place in India during this period:

1. State Bank of India (SBI) Merger (2017)

Merged Banks: State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore, and Bharatiya Mahila Bank.

Impact: This merger created the largest public sector bank in India, enhancing SBI's market position and offering a broader range of financial services.

2. Bank of Baroda Merger (2019)

Merged Banks: Dena Bank and Vijaya Bank.

Impact: This merger made Bank of Baroda the third-largest public sector bank in India, improving its operational efficiency and market presence.

3. Public Sector Bank Mergers (2020)

Punjab National Bank (PNB): Merged with Oriental Bank of Commerce and United Bank of India, becoming the second-largest PSU bank in terms of branch network.

Canara Bank: Absorbed Syndicate Bank, becoming the fourth-largest PSU bank in India.

Indian Bank: Merged with Allahabad Bank, strengthening its financial position and expanding its reach.

Union Bank of India: Acquired Andhra Bank and Corporation Bank, enhancing its operational efficiency and market presence.

4. HDFC Merger (2022)

Merged Entities: HDFC merged with HDFC Bank.

Impact: This merger aimed to consolidate market capitalization, making HDFC Bank a larger banking entity in India.

These mergers have significantly reduced the number of public sector banks in India, from 27 in 2017 to 12, with the goal of creating more robust and competitive banking institutions.

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