Mergers and Acquisitions in Banks

The recent Mergers and Acquisitions of Banks throws us to the back to the History of India when various small banks were merged together or with some large bank.

In 1921, Imperial Bank of India was formed by the amalgamation of the three presidency banks viz. The Bank of Calcutta, The Bank of Bombay, and The Bank of Madras. Then on 1 July 1955, the Imperial Bank of India became the State Bank of India. Since then there have been various mergers in the Indian Banking Industry. 

First in 1998, the Narasimham-II Committee recommended for merger of large Indian banks to make them strong along with other recommendations. Then in line with the Committee’s recommendations, there were a string of mergers in banks of India during the late 90s and early 2000s.

The idea of consolidation among public sector banks was pushed by P Chidambaram, when he was finance minister under the United Progressive Alliance (UPA) government.

Here is a list of some mergers in the Indian Banking Industry:

The Bank which acquired

The Bank which got Merged

Year of Merger

State Bank of India * 5 SB Associate Banks and Bharatiya Mahila Bank 2017
Kotak Mahindra Bank ING Vysya Bank 2016
ICICI Bank Bank of Rajasthan 2010
State Bank of India State Bank of Indore 2009
State Bank of India State Bank of Saurashtra 2008
HDFC Bank Centurion Bank of Punjab 2008
Centurion Bank of Punjab Lord Krishna Bank 2007
Indian Overseas Bank Bharat Overseas Bank 2007
IDBI Bank United Western Bank Ltd. 2006
Federal Bank Ganesh Bank of Kurundwad 2006
* Centurion Bank Bank of Punjab (BoP) 2005
IDBI Bank Ltd. IDBI Ltd. 2005
Oriental Bank of Commerce Global Trust Bank (GTB) 2004
Punjab National Nedungadi Bank 2003
Bank of Baroda Benares State Bank 2002
ICICI Bank Ltd. ICICI Ltd. 2002
ICICI Bank Bank of Madura 2001
HDFC Bank Times Bank 2000
Union Bank of India Sikkim Bank 1999
State Bank of India Kashinath State Bank 1995
Bank of India Bank of Karad 1994
Punjab National Bank New Bank of India 1993
State bank of India Bank of Cochin 1985
Canara Bank Lakshmi Commercial Bank 1985

* State bank Associate Banks – State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore
* Centurion Bank and Bank of Punjab merged to form Centurion Bank of Punjab.


  1. Amalgamation of two banking companies is under the provisions of Section 44A of the Banking Regulation Act, 1949.
  2. Amalgamation of a banking company with a non-banking company is governed by sections 391 to 394 of the Companies Act, 1956.



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10 Thoughts to “Mergers and Acquisitions in Banks”

  1. yo

    thanku much needed post
    put this questions in quizzes too

  2. AVI™ (Sinchen loveR)

    Thnxxx sir

  3. Suraj

    In 2005=> Centurion Bank and Bank of Punjab (BoP) merged to form Centurion Bank of Punjab
    and then in 2008 this new entity Centurion Bank of Punjab merged with HDFC

  4. Naina

    BOB me madura bank aya tha.

    1. Centurion Bank of Punjab also in one of the shifts

      1. Naina

        yup. my exam was in 2nd shift. Centurion bank came in 1st shift.

    2. Sharabi

      Hi … kaisi ho ?
      sbi po result ??? kaisa rha

  5. Player

    Thanks for attaching info along with quiz .

  6. रवि किशन

    thanku u subhra maam..

  7. bristi

    kotak mahindra bank ing vysya bank merged in 2014

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