Punjab National Bank (PNB) has wrapped up the process of IT integration of erstwhile Oriental Bank of Commerce (OBC) branches with itself.
With the completion of the process, OBC clients have moved to PNB’s Core Banking Solution (CBS) and can transact through existing branches and internet and mobile banking.2
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Besides, the ATM Switch and terminals have been integrated into the PNB network.
Customers’ account numbers, debit cards or net banking credentials have not been impacted by the transfer.
PNB MD and CEO CH.S.S. Mallikarjuna Rao said: “it is now our priority to bring all branches of erstwhile United Bank of India in sync with PNB in order to amplify our potential and offer state-of-the-art services across all branches throughout the country.”
The plans of the consolidation were announced in September last year, with the government saying that it intends to combine ten state-owned lenders into four entities.
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By GlobalDataThe plan included the merger of OBC and United Bank of India (UBI) with PNB. The merger took effect on 1 April 2020, resulting in the creation of the second-largest lender in the country.
The plan also involved the merger of Andhra Bank, Corporation Bank with the Union Bank of India, combination of Canara Bank and Syndicate Bank, and merger of Indian Bank with Allahabad Bank.
In August this year, a report said the PNB-UBI-OBC amalgamation will not result in any layoff.
