State Bank of India today said it will require up to Rs 3,000 crore capital to merge one of its associate banks. SBI will need Rs 1,000-3,000 crore in capital if it were to merge one of its subsidiaries with itself, Pratip Chaudhuri said. He was speaking to shareholders at the bank's annual general meeting here. Click HERE for the complete article.
Huge costs, particularly relating to employee benefits and provisioning for non-performing assets, might delay the merger of the five associate banks with State Bank of India, sources said. According to S. Vishvanathan, Managing Director of SBI Associates and Subsidiaries division, the bank would have to fork out around Rs 10,000 crore for merger of all the associate banks with itself. The amount of capital required would depend on the size and business of the individual bank. Click HERE for full article.
State Bank of India (SBI) today said the proposed merger of its five associate banks with itself could start by September after a high-powered committee submits its report on the same. Click HERE for complete article.
State Bank of Travancore Employees’ Union on Wednesday said that it was quite unfortunate that the government and the SBI management were working day in and day out for merging the Associate Banks with the SBI. Click HERE for details.
