Vijaya bank is a nationalized public sector banking institution on a medium scale which was founded in Mangalore, in 1931 by Shri A.B.Shetty. The bank derived its name from its foundation day on Vijaya Dashami and was established to promote and inculcate banking and business interests within the farming or agricultural community in Karnataka.
It was transformed into a scheduled bank in 1958 and later on nationalized in 1980s with merging of 9 small other banks. The bank has 12,500 employees strength at present with 1406 branch networks all over India. The bank provides merchant banking, Credit Cards, electronic remittance solutions and hire purchase and leasing services. Its headquarters are in Bangalore.
Vijaya Bank and Dena Bank were merged with Bank of Baroda with effect from April 1, 2019.
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. Out of it, it is believed that this merging will 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.
Checkout the information about the merging of banks here