Chennai (Tamil Nadu) [India], Aug 24 (ANI): Indian Bank has been featured in Harvard Business Publishing for its successful merger of Allahabad Bank.
The first-of-its-kind seamless merger of equal-sized Indian banks with prominence in southern and eastern region was recognised and published as a case study.
Curated by Indian School of Business (ISB), the case study encapsulates journey that Indian Bank embarked on to successfully execute the amalgamation process.
‘Merger of Equals’ narrates the entire integration process, which comprised of rigorous strategic planning and execution by Indian Bank, with impetus on the challenges faced and their answers found.
The merger has made Indian Bank a pan-India lender with significant presence in southern, northern and eastern parts of the country.
Padmaja Chunduru, Managing Director and CEO of Indian Bank, said the merger has given Indian Bank a distinct experience of building synergies between two banks with vast legacies.
“We hope this case study will help readers understand the big picture of this exemplary merger,” she said.
The two banks merged efficiently while addressing challenges of human capital, varied cultures and geographic locations. This case of Indian Bank’s merger process can be used by faculty and trainers from various business schools and organisations globally.
Indian Bank is the seventh-largest public sector bank in India with 10 crore customers and 41,557 employees. (ANI)
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