well here is some info i have
source:
Centurion Bank, Bank of Punjab, merger, private sector banks, India: Banknet India
Highlights of the merger-Centurion Bank and Bank of Punjab
Bank of Punjab will be merged into Centurion Bank.
New entity will be named 'Centurion Bank of Punjab'.
Centurion Bank's chairman Rana Talwar will take over as the chairman of the merged entity.
Centurion Bank's MD Shailendra Bhandari will be the MD of the merged entity.
KPMG India Pvt Ltd and NM Raiji & Co are the independent valuers and Ambit Corporate Finance was the sole investment banker to the transaction.
Swap ratio has been fixed at 4: 9, that is, for every four shares of Rs 10 of Bank of Punjab, its shareholders would receive nine shares of Rs 1 of Centurion Bank.
There has been no cash transaction in the course of the merger; it has been settled through the swap of shares.
There will no downsizing via the voluntary retirement scheme.
The cost of deposit of BoP were lower than Centurion, while Centurion had a net interest margin of around 5.8%,. The net interest margin of the merged entity will be at 4.8%.
The combined entity will have net non performing assets (NPAs) of about 3.6 per cent as per performa March 2005 data. Centurion banks net NPAs as on 31 March 2005 stood at 2.49 per cent while for Bank of Punjab the figure stood at 4.6 per cent.
The combined entity will have adequate capital adequacy of 16.1 per cent to provide for its growth plans. Centurion banks capital adequacy on a standalone basis stood at 23.1 per cent while for Bank of Punjab the figure stood at 9.21per cent.
The Performa net worth of combined entity as at March 2005 stood at Rs 696 crore with Centurion's net worth at Rs 511 crore and Bank of Punjab's net worth at Rs 181 crore, and the combine entity (Centurion Bank of Punjab) will have total asset 9,395 crore, deposit 7,837crore and operating profit 43 crore.
The merged entity will have a paid up share capital of Rs 130 cr and a net worth of Rs 696 cr.
The merged entity will have 235 Branches & extension counters, 382 ATMs and 2.2 million customers .