Printer Friendly

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

(C)2017 ENPublishing - http://www.enpublishing.co.uk

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.'

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

((Distributed via M2 Communications - http://www.m2.com))

COPYRIGHT 2017 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2017 Gale, Cengage Learning. All rights reserved.

 
Article Details
Printer friendly Cite/link Email Feedback
Publication:Global Banking News (GBN)
Date:Jun 13, 2017
Words:132
Previous Article:Trump proposes new efficient banking rules.
Next Article:Opposition growing over sale of Barclays Bank Zimbabwe.
Topics:

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters