United Western Bank (UWB) was an Indian bank founded in 1840 that IDBI Bank acquired in 2006 in a rescue.[1] The Reserve Bank of India placed UWB under a moratorium to protect the interest of public and depositors as growing losses eroded its capital

About the Merger of the United Western Bank into the IDBI Bank

ince IDBI is adequately capitalised, it will not have to pump money into United Western Bank, which has a net worth of Rs 70 crore (Rs 700 million).

However, IDBI will have to pay United Western Bank shareholders Rs 150.55 crore (Rs 1.5 billion) at Rs 28 a share, which works out to a 31 per cent premium over United Western Bank's closing price of Rs 21.45 on the Bombay Stock Exchange on Tuesday.

Both banks have till September 27 to consider the amalgamation scheme. The board of United Western Bank is likely to meet on Wednesday or Thursday.

With United Western Bank in its kitty, IDBI's branch tally will swell to 425 from 195 now. The merger will also expand IDBI's asset base by Rs 7,166 crore (Rs 71.66 billion

For more Information you may Contact to the IDBI bank the Contact details are given below

Contact Details :
IDBI Bank Ltd.
IDBI Tower, WTC Complex,
Cuffe Parade, Colaba, Mumbai 400005.
1800-200-1947