This research study analyse and describe about the financial analysis of recent merger of different banks. M and A are common in Banking system of India or banking sector, then recently the sector witnessed merger in the banking industry in India which announced or effect from 1 April, 2019 i.e., Bank of Baroda and from 1st April 2020 i.e., Canara Bank, UBI, PNB, Indian Bank. Analysis of performance of financial refers to calculating or estimating the consequences of the banks or companies entire operations and strategies with references to the financial parameters or in another way, which means analysing the financial condition of the banks for a stipulated period of time. In this research paper analysed the performance of financial parameters of recent merger of public sector banks namely, Canara bank with Syndicate bank, Indian Bank with Allahabad bank, Union Bank with Andhra Bank and Corporation Bank, Punjab National Bank with Oriental Bank of Commerce and United of India and Bank of Baroda with Dena Bank and Vijaya Banks and financial ratios Net profit, operating profit, DER, ROA, current ratio, ROE, Net profit per employee, Operating expenses and interest operating expenses considered for analysis. And, also used paired t-test to ascertain for t-test and significance value with the help of using IBMSPSS software, the finally, all the five banks result perfectly shows that there is massive impact on the financial variables after merger, Debt equity ratio were decreased, net profit and operating profit margins were increased and ROE and ROA were showing positive figures after merger, which assists to make high profitability of banks. After merger BOB, UBI and Canara Bank’s employee size and number of branches expanded in size and, In this paper it is examined which methods can be applied for analysing the M&A and reasons and why these studies concluded in positive results, are given.