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Union Bank of India, Bank of India can merge by end of 2026
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The Indian government’s ongoing banking sector consolidation push appears to be advancing with preparations to merge Union Bank of India and Bank of India into a single large public sector bank.
Sources familiar with the discussions say due diligence and internal alignment work is underway, with some officials suggesting the deal could be finalised by the end of this calendar year, 2026.
The initial merger process between Union Bank of India and Bank of India (BoI) seems to have begun, according to sources familiar with the matter.
Both banks are currently undertaking due diligence, including internal assessments of processes and operational integration. Some officials said the merger could be completed by the end of the calendar year.
“The government is keen to merge smaller banks with larger ones to create four to five big PSU banks instead of the current 12,” said a senior banking official aware of the developments, requesting anonymity.
Sources familiar with the discussions say due diligence and internal alignment work is underway, with some officials suggesting the deal could be finalised by the end of this calendar year, 2026.
The initial merger process between Union Bank of India and Bank of India (BoI) seems to have begun, according to sources familiar with the matter.
Both banks are currently undertaking due diligence, including internal assessments of processes and operational integration. Some officials said the merger could be completed by the end of the calendar year.
“The government is keen to merge smaller banks with larger ones to create four to five big PSU banks instead of the current 12,” said a senior banking official aware of the developments, requesting anonymity.
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