Skip to main content

Merger with associate banks to add Rs. 8 lakh crore to asset: SBI

 Naresh Sagar
State Bank of India on Saturday said the ongoing merger of five of its associate banks and Bharatiya Mahila Bank will add Rs. 8 lakh crore or 120 billion dollar to its assets and will create a banking behemoth of global scale.
 
The bank also said the merger of State Banks of Bikaner and Jaipur, Travancore, Patiala, Hyderabad and Mysore, and also of Bhartiya Mahila Bank, a bank for women set up in November 2013, will lead to a 36 per cent increase in the SBI’s total assets at about 447 billion dollar.
 
The bank said, mergers will dwarf ICICI Bank assets to just one-fourth of SBI and will also catapult the bank into the top 50 banks globally.
 
The combined entity will have network of over 24,000 branches with 2,70,000 employees and 58,000 ATMs serving over 50 crore customers.
 
This Thursday, the board of SBI had cleared the merge plan, and last month, the Cabinet had cleared the merger plan.

Comments

Post a Comment

Popular posts from this blog

Assembly Elections 2017  Uttar Pradesh  (403/403) Punjab  (117/117) Goa  (38/40) Party Lead Won Total SP+INC 38 28 66 BJP + 193 119 312 BSP 10 10 20 RLD 00 01 1 Others 03 01 4 Party Lead Won Total SAD+BJP 01 16 17 INC 04 74 78 AAP 00 20 20 BSP 0 0 0 Others 00 02 2 Party Lead Won Total BJP 02 12 14 INC 01 13 14 AAP 0 0 0 MGP + 00 03 3 Others 00 07 7 Uttarakhand  (70/70) Manipur  (60/60)   Party Lead Won Total INC 04 07 11 BJP 15 42 57 BSP 0 0 0 UKD 0 0 0 Others 01 01 2 Party Lead Won Total INC 09 16 25 BJP 06 18 24 AITC 0 01 1 NPF 01 03 4 Others 02 04 6  
1 comment
20
Women Economic Forum – India in Kolkata presented by the JW Marriott Kolkata. December 10, 2016 Sagar Media Inc HEADLINES LEISURE POLITICS ENVIRONMENT ART & ENTERTAINMENT SPORTS ALL ARTICLES Saturday, Dec. 10, 2016 Next update in about 22 hours Archives Women Economic Forum – India in Kolkata presented by the JW Marriott Kolkata. Shared by Sagar Media Inc enkaysagar.wordpress.com  – We have the pleasure to invite you to be our distinguished speaker at our regional Women Economic Forum – India in Kolkata presented by the JW Marriott Kolkata.  We would love to have you with us a… President Park’s impeachment approved Shared by Sagar Media Inc enkaysagar.wordpress.com  – President Park Geun-hye holds a meeting with Cabinet ministers at the presidential office Cheong Wa Dae in Seoul on Dec. 9, 2016 South Korea’s parliament on Friday passed a motion to impeach Presid… Magnitude 7.8 earthquake str
Post a Comment
20
Duterte proposes another UN August 21, 2016 Philippine President Rodrigo Duterte railed against the United Nations today after it called for an end to the wave of killings unleashed by his war on drugs, saying he might leave the organisation. Duterte also said the Philippines will invite China and African nations to form another global organisation in place of United Nations, as world body is not doing enough to address hunger and terrorism. There appears to be human rights working for terrorist and mafia in third world to keep their states in dire state. Two UN human rights experts last week urged Manila to stop the extra-judicial executions and killings that have escalated since Duterte won the Presidency. About 900 suspected drug traffickers have been killed since he came to power after winning the election on May 9. Leave a comment   Edit Three terrorists killed in Tangdar of Jammu August 21, 2016 Jammu & Kashmir, three unidentified militants were killed i
Post a Comment
20