According to reports, the merger of Allahabad Bank with Indian Bank will generate more jobs and not result in the closure of branches or loss of jobs, said a top official.
Padmaja Chunduru, MD and CEO, Indian Bank shared in media, “After consolidation, we might need more people at the zonal level, processing centers, MSME, ICT departments, digital initiatives and marketing.”
She further shared that no branches will be and the chances of overlapping of branches is very little either in the north or south. “We have only 50 branches of Allahabad Bank in the south,” shared Padmaja.
“IT and human resources are the two crucial issues in this merger. Since we are on the same technology platform, we expect the merger to be smooth. Human resources will not be an issue. However, integration will take some time,” added Padmaja.
Ahead of its merger with Allahabad Bank, top Indian Bank officials are visiting Mumbai to understand the previous mega mergers involving State Bank of India and its subsidiaries and Bank of Baroda (BoB) with Vijaya Bank and Dena Bank.
“We are in Mumbai for three days to understand how BoB and SBI went ahead with their mergers successfully. We learnt about the steps taken by them through presentations. We expect the transition to be smooth,” she said. After getting an in-principle nod from the board, Ms. Chunduru plans to address the staff of Allahabad Bank next week to dispel fears about job loss or transfer of staff. The culture, identity and value of both the banks are different. We would try to preserve them, she said.