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-SBI not to complete consolidation of affiliates this year.

Global Banking News-April 29, 2011--SBI not to complete consolidation of affiliates this year(C)2011 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 29 April 2011

State Bank of India (NSE: SBI) (SBI), considered to be the largest bank in India, has announced that it would not complete the consolidation of its affiliates this year.

The chairman of the bank, Pratip Chaudhuri, said that the bank is not planning to merge any associate bank this year. He said, 'We will prefer to merge associate banks where SBI holds 100 per cent, rather than where the holding is less.'

SBI had merged two affiliates into itself in 2008 and 2010.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

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Publication:Telecomworldwire
Date:Apr 29, 2011
Words:131
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