Friday, July 13, 2012

SBI may not go for associate bank merger this year

State Bank of India (SBI) is unlikely to go for consolidation of its associate banks this year as some issues are yet to be sorted out.

SBI undertook first ever amalgamation of its associate State Bank of Saurashtra in 2008, followed by State Bank of Indore in August, 2010.
There are five associate banks of SBI. Two of them are fully-owned, State Bank of Patiala and State Bank of Hyderabad, while remaining three - State Bank of Mysore, State Bank of Travancore and State Bank of Bikaner and Jaipur (SBBJ) - are not 100 per cent owned. These three entities are also listed at stock exchanges.
Amalgamation of unlisted banks is easier compared to the listed entities. So, State Bank of Patiala and State Bank of Hyderabad could be next on the block.

Link for the news:

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