IDBI Bank denies merger of United Bank with itself
30 July 2014 3:52 AM IST
‘We confirm that so far no proposal for merger of United Bank of India with IDBI Bank has been discussed at IDBI Bank's board meeting and also no communication from Government of India in respect of the above has been received by the bank,’ IDBI Bank said in a statement.
Meanwhile in separate statement, United Bank of India said that there is no negotiations taking place for merger of the bank.
‘No negotiations are taking place for the merger of the bank with any other bank,’ United Bank of India said. Both the banks are public sector entities with government of India having 76.50 per cent and 89.47 per cent stake in IDBI Bank and United Bank of India respectively.
‘As soon as any communication from government is received by IDBI Bank or any such proposal is discussed at IDBI Bank's board meeting, necessary disclosure under clause 36 of the Listing Agreement shall be made by the bank,’ it said.
Meanwhile in separate statement, United Bank of India said that there is no negotiations taking place for merger of the bank.
‘No negotiations are taking place for the merger of the bank with any other bank,’ United Bank of India said. Both the banks are public sector entities with government of India having 76.50 per cent and 89.47 per cent stake in IDBI Bank and United Bank of India respectively.
‘As soon as any communication from government is received by IDBI Bank or any such proposal is discussed at IDBI Bank's board meeting, necessary disclosure under clause 36 of the Listing Agreement shall be made by the bank,’ it said.
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