Federal Bank, LKBL call off merger

Mumbai: The managements of Federal Bank and Lord Krishna Bank Ltd (LKBL)have decided to call off the on going discussions for merger of the two banks, it informed the Bombay Stock Exchange.

While the process of due diligence for the purpose had gone amicably and with full cooperation between the banks, despite best efforts from both sides, the two sides could not reach a mutually agreeable valuation for the purpose, it said.