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Bank merged

Staff Reporter

KOCHI: The Ganesh Bank of Kurundwad Limited has been merged with the Aluva-based Federal Bank. The merger will come into effect from January 25 vide a Government notification on Tuesday.

The Ganesh Bank has eight branches in Karnataka and 24 in Maharashtra. With the merger, the Federal Bank's branch network in these two States has gone up to 65. It has 330 branches in Kerala and 127 in other parts of the country. The total deposits in the Ganesh Bank are Rs. 200 crore and advances are Rs. 100 crore, according to a release from the Federal Bank here.

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