SBI mulls merger of other associate banks

State Bank of India (SBI) is considering the merger of all five of its remaining associate banks with itself, having amalgamated with two of them in the last two years.

“It (merger of other associate banks) is in my mind, but we have to see,” SBI chairman O P Bhatt said.

“We have to check out from the government and the banks concerned,” he said.

The merger of State Bank of Indore, the smallest associate bank, was completed last month. All 503 of State Bank of Indore’s branches, including 437 core banking branches and 66 outlets for NRI services, became a part of SBI from August 26, 2010.
Read more: SBI mulls merger of other associate banks – India Business – Business – The Times of India

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