Wikipedia - Dena Bank

Dena Bank was a government-owned bank that in 2019 merged with Bank of Baroda. It was headquartered in Mumbai and had 1,874 branches. The bank was founded in 1938 as a privately owned Bank. In 1969 the Government of India nationalized Dena Bank.

History

Dena Bank was founded on 26 May 1938 by the sons of Devkaran Nanjee - Choonilal Devkaran Nanjee, Pranlal Devkaran Nanjee & other family members under the name Devkaran Nanjee Banking Company. It adopted its new name, Dena (Devkaran Nanjee) Bank, when it was incorporated as a public company in December 1939.

In July 1969, the government of India nationalized Dena Bank, along with thirteen other major banks. Dena Bank thereby became a Public Sector bank constituted under the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970.

Amalgamation

On 17 September 2018, the Finance Ministry of the government of India proposed to merge three state run banks — Vijaya Bank, Bank of Baroda, and Dena Bank — into a single bank. The amalgamated bank was estimated to become the third biggest bank in India with a total business of more than 1,482,000,000,000 (equivalent to 2.0 trillion or US$23 billion in 2023). Some of the main stated reasons for the merger were to help the weaker banks improve their operational efficiency, increase their customer base and market reach, and to help them raise capital without depending on government funds at all. Earlier that year, Dena Bank had been brought under the Prompt Corrective Action (PCA) framework due to its high non-performing loans. At the time of the proposal to merge, the gross NPA ratios of Bank of Baroda, Vijaya Bank and Dena Bank were 12.4%, 6.9% and 22% respectively, and Dena Bank was the weakest among the three in terms of its total business size.

The Union Cabinet and the boards of the banks approved the merger on 2 January 2019. Under the terms of the amalgamation, Dena Bank and Vijaya Bank shareholders received 110 and 402 equity shares of the Bank of Baroda, respectively, of face value 2 for every 1,000 shares they held. The amalgamation became effective from 1 April 2019.

Bank of Baroda announced that it would auction the Dena Corporate Centre (Dena Bank's head office) at Bandra Kurla Complex, Mumbai in September 2019.

**Dena Bank Soccer Team: A Legacy of Passion and Perseverance**

The Dena Bank Soccer Team, representing the esteemed financial institution, is a vibrant embodiment of teamwork, dedication, and the spirit of sportsmanship. Established with the vision of promoting soccer at grassroots levels, the team has become a symbol of pride for both the bank and its community.

**Team Ethos:**
At the heart of Dena Bank Soccer Team lies a commitment to excellence and inclusivity. The team fosters a culture where players from diverse backgrounds come together, united by their love for the game. This ethos not only enhances team dynamics but also promotes camaraderie and mutual respect among players.

**Training and Development:**
Dena Bank invests significantly in the development of its players, providing them with top-notch coaching, training facilities, and resources. The team emphasizes skill development, physical fitness, and tactical awareness, ensuring that each player reaches their full potential. Regular training sessions and friendly matches help build a competitive spirit while nurturing a love for the sport.

**Community Engagement:**
Beyond the pitch, the Dena Bank Soccer Team actively engages with the community through various outreach programs. They organize soccer clinics, workshops, and tournaments for local youth, aiming to inspire the next generation of soccer stars. The team believes in giving back to the community and uses soccer as a tool for social change, promoting values such as teamwork, discipline, and perseverance.

**Achievements:**
Over the years, the Dena Bank Soccer Team has made significant strides in local and regional tournaments, showcasing their talent and determination. Their journey is marked by numerous accolades and a growing fan base, reflecting their hard work and commitment to the sport.

**Looking Ahead:**
As the Dena Bank Soccer Team continues to evolve, they remain focused on their mission to excel in the sport while fostering a sense of community and belonging. With a strong foundation and a passionate roster of players, the team is poised for a bright future, ready to take on new challenges and achieve greater heights in the world of soccer.

Join us in supporting the Dena Bank Soccer Team as they strive for excellence on and off the field!