State Bank of India says it might write off debts as part of merger.
Global Banking News-June 13, 2017--State Bank of India says it might write off debts as part of merger
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Global Banking News - 13 June 2017
State Bank of India (SBI) (NSE: SBI) has said that it cannot rule out write-offs on account of its merger with five associate banks.
The five associate banks were merged with SBI on April 1. The bank is now integrating the units. It said, 'There can be no assurance that the bank will not have to undertake write-downs or write-offs in connection with the merger, which could have a negative impact on its financial condition and results of operations.'
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