SBI Chairman says not looking at group consolidation for now

http://www.thehindubusinessline.com/industry-and-economy/banking/sbi-chairman-says-not-looking-at-group-consolidation-for-now/article4689398.ece

State Bank of India on Monday made it clear that it was not looking at consolidation of any of its associate banks with itself for now.

But the issue has not gone off its radar and may well be taken up for consideration after July, Pratip Chaudhuri, SBI Chairman, told Business Line here. He was in the Capital to attend the board meeting of State Bank of Bikaner & Jaipur (SBBJ).

Chaudhuri, however, maintained that there was good economic logic in going for consolidation of its associate banks with SBI.

In recent years, two of SBI’s erstwhile associate banks — State Bank of Saurashtra and State Bank of Indore — were merged with it.

The other five stand-alone associate banks of SBI are State Bank of Patiala, State Bank of Hyderabad, State Bank of Mysore, State Bank of Bikaner & Jaipur and State Bank of Travancore.