With the merger of Syndicate Bank and Canara Bank coming into effect on April 1, the merged business will have 10 391 branches and 12 829 ATMs.
The merged business will be large, but in a way that does not change for the lower banks, customer satisfaction, and satisfaction. The merged bank will significantly improve access to banking services to the wider community and expand the ongoing investment activities currently underway.
According to a press release on March 28, issued by the Reserve Bank of India, all branches of Syndicate Bank will operate as branches of Canara Bank from April 1, 2020. syndicate will be treated as Canara bank lenders from the due date.
Talking about the benefits of integration, It will lead to a significant increase in business size, and the expected level of economy is expected to translate into better profitability, broader product offerings, and the adoption of modern technology, attractive growth.
About technology-enabled services, All services currently offered to customers of both banks will continue to be the same. While the integration of key solutions for both banks will be done promptly, customers will be able to have seamless access to advanced technology products.
The merger is expected to provide exciting technical opportunities for employees. The bank accepted the “best” when determining employee benefits. This will have a direct impact on borrowers of loan products for both banks. Most importantly, in these difficult covid-19 times when people were relying on gold loans, Syndicate Bank Gold Loan customers will now be considered as Canara bank borrowers and will enjoy the services of both banks.
As for customers, the banking services provided to customers will continue to be uninterrupted by the excellent features of both banks. To establish a strong sense of belonging to one, central banking institution, the bank will be providing 12 interactive services to affiliated bank customers from April 1. Customers will also be provided with a wide range of variety of products from both the banks.
In today’s time where so many lenders have come up with their exciting deals with the offering of Gold Loans, it has become difficult for the borrowers to decide and select one single lender that suits their needs and situations the best.
We at Dialabank with a team of experts in the financial advisory are here to guide you through the various financial products available in the market.
Call us today to get your queries resolved- 9878981144