State Bank of India will merge one of its associate banks by the end of September, marking one more step towards creating a global-sized Indian bank.
The outgoing SBI Chief, Pratip Chaudhuri, clarified that the bank to be absorbed now will definitely not be State Bank of Hyderabad because of the tense atmosphere in Andhra Pradesh over the bifurcation of the State.
“Since our retail deposit base is strong, we will absorb a bank whose retail base is weak,” Chaudhuri said.
He, however, did not name the subsidiary, which will be lapped up.
Sources, who did not wish to be named, said the bank which will merge with SBI could either be State Bank of Patiala or State Bank of Mysore.
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The outgoing SBI Chief, Pratip Chaudhuri, clarified that the bank to be absorbed now will definitely not be State Bank of Hyderabad because of the tense atmosphere in Andhra Pradesh over the bifurcation of the State.
“Since our retail deposit base is strong, we will absorb a bank whose retail base is weak,” Chaudhuri said.
He, however, did not name the subsidiary, which will be lapped up.
Sources, who did not wish to be named, said the bank which will merge with SBI could either be State Bank of Patiala or State Bank of Mysore.
CLICK HERE for the complete article.
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