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Mumbai, April 5

Saraswat Co-operative Bank said it has merged the troubled Maratha Mandir Co-operative Bank with itself on April 3.

Maratha Mandir Bank has 11 branches and one extension counter. All these branches will now operate as Saraswat Bank branches, said a press release. With this merger, the number of Saraswat Bank's branches has gone up from 75 to 86. All 242 employees of Maratha Mandir have been accommodated in Saraswat Bank. Maratha Mandir Bank had deposits worth Rs 180 crore and loans of Rs 110 crore. Two other banks on the radar of Saraswat Bank are a Bangalore-based co-operative bank and Ganesh Bank of Kurundwad in Maharashtra, said Mr S. K. Banerji, Managing Director, Saraswat Bank.

More Stories on : Mergers & Acquisitions | Co-operatives | Maharashtra

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