The sale is part of Dena Bank’s non-core asset divestment plan before its merger with Bank of Baroda and Vijaya Bank. Graphic: MintMumbai: Public sector lender Dena Bank has initiated the process of selling some of its real estate assets, including properties housing its branches, worth ₹462 crore. The move comes months after the government decided to merge Dena with Bank of Baroda and Vijaya Bank. Dena Bank CEO Karnam Sekar said over the phone that the bank plans to sell and lease back these properties, but the branches will not be shut down. The SBI bank merger had resulted in a sharp jump in the combined entity’s bad loans portfolio, crimping its profit.

Source: Mint December 07, 2018 09:00 UTC