Ahead of the biggest merger of the banking sector, the employees of the Allahabad bank showed their disappointment towards it and protested in front if the head quarters of the bank. Now, the cheif executives of the Allahabad Bank And Indian bank have came forward and handled the matter. They told employees that this merger is to grow the economy and would definitely not hamper the growth of banks.
Last week, a town hall meting was organised in Chennai, where 1200 employees of the both banks were present.
Padmaja Chunduru, chief executive of Indian Bank, said in a statement that while the common core-banking solution (CBS) platform will make the amalgamation relatively smooth, it the unity of the employees that would help the bank to achieve it.
“The synergies would come from wider presence pan India, economies of scale, higher investments in technology and improving productivity. The customers would benefit from the better customised product and service offerings and digital initiatives that will be rolled out,” said Chunduru.
She said that this integration of human resources would be main focus of the merger. The employees would be required to focus on economic growth during the transition.
Mallikarjuna Rao, chief executive of Allahabad Bank, said that the cbs platforms of the banks would need to be concentrate on the unification of the product and services.
“There will be capacity for better adaptability to faster technological changes, achieve economies of scale,” he said.