9th April 2020: All branches of United Bank of India and Oriental Bank of Commerce has been started functioning as PNB branches. This merger will create the second-largest nationalized bank in the nation both in terms of business and branch network. The amalgamation of Punjab National Bank, Oriental Bank of Commerce, and the United Bank of India has come into effect from April 1, 2020.
The amalgamated bank will have a wider geographical range through 11,000 plus branches, more than 13,000 ATMs, one lakh employees, and a business mix of over Rs 18 lakh crore. The bigger geographical range will help them to serve their customers more effectively and efficiently.
The synergy from the amalgamation will create a universally 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 2.0 will be offering specified inter-operable services through all branches and all platforms including Mobile and Internet Banking