The amalgamation of Punjab National Bank, United Bank of All branches of OBC, United Bank of India started functioning as PNB branchesIndia and Oriental Bank of Commerce has come into effect from April 1, 2020. State-owned Punjab National bank on Wednesday said all nation-wide branches of United Bank of India and Oriental Bank of Commerce has started functioning as PNB branches.
The merger will create the second-largest nationalized bank of the country – both in terms of business and branch network. 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 ₹18 lakh crore.
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. 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.