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-Associate banks of SBI to merge.

Global Banking News-February 23, 2011--Associate banks of SBI to merge(C)2011 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 23 February 2011

Associate banks of State Bank of India (SBI) (NSE: SBI) are to be merged.

The bank, considered to be the biggest in India, is looking to merge the remaining five associate banks in about a year.

SBI chairman OP Bhatt said, 'There are five banks remaining. We have representations from various associations, leaders etc from these banks which want these banks also to be merged with the State Bank of India simply because it is primarily good for the employees in multiple ways.'

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Publication:Telecomworldwire
Date:Feb 23, 2011
Words:128
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