Oriental Bank of Commerce will shortly hire an international consultant to restructure and integrate the failed Global Trust Bank with itself by this fiscal end.
"Within three days after submission of due diligence report, we will float tenders for inviting an international consultant to restructure the GTB unit," OBC chairman B D Narang said on Monday.
He said the internal assessment being carried out by the bank on GTB was delayed due to some valuation problems, which are being sorted out and a report is expected to be submitted this week.
The consultant will be asked to look into five important aspects of the merger -- system integration, branch and staff rationalisation, revamp of regional offices and future growth plans to take advantage of the synergy with GTB, he said.
The Delhi-based bank intends to complete the process within six months, Narang said. Though OBC has ruled out any Voluntary Retirement Scheme for the 1,300-odd staff of the Hyderabad-based bank, it has given three-year job protection to the employees of GTB.
GTB employees, including its managing director Sudhakar Gande, would continue to get the present pay package but eventually it would come at par with that of OBC staff in three years.