It's a massive amalgamation as all nation-wide branches of United Bank of India and Oriental Bank of Commerce have now started functioning as the state-owned Punjab National bank branches. The amalgamation of Punjab National Bank, United Bank of India and Oriental Bank of Commerce has come into effect from April 1, 2020. Here is how the amalgamation is a big win-win for Oriental Bank of Commerce and United Bank of India customers:-

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- PNB 2.0 will be offering specified inter-operable services through all branches and all platforms including Mobile and Internet Banking

- The amalgamated bank will have a wider geographical reach through 11,000 plus branches, more than 13,000 ATMs, one lakh employees and a business mix of over Rs 18 lakh crore

- PNB has appointed 'Bank Sathi' at all branches/zones/head office (of all three banks) that will address customer concerns and assist them in choosing the right products and services. It will also smoothen the customer transition.

- The merger will create the second largest nationalized bank of the country - both in terms of business and branch network. SBI is the largest one

- A robust risk governance mechanism has been set up to mitigate risks and make the banking experience secure and safe

Meanwhile, PNB has unveiled a new logo following the merger of United Bank of India and Oriental Bank of Commerce with it. The new logo will bear distinct signages of all the three public sector lenders.

The synergy from the amalgamation will create a globally competitive, next generation bank, PNB 2.0, the bank said in a release and added that all customers, including depositors, will be treated as PNB customers.  "The bigger geographical footprint will help us serve our customers more effectively and efficiently," said S S Mallikarjuna Rao, MD & CEO of Punjab National Bank.