All subsidiaries will be merged with State Bank of India (SBI) in next 10 years – Chairman of SBI Mr Pratip Chaudhuri.
Country’s largest lender State Bank of India (SBI) has chalked out plans to merge all its subsidiaries with itself in the next 10 years. State Bank of India will merge one subsidiary every two years.
Following a merger, there will be certain practical issues, he said. For instance, “State Bank of Hyderabad (SBH) has got 1,200 branches in Andhra Pradesh alone, while SBI has 1,300 branches there. You can’t have 2,500 branches under one local head office as it will become unmanageable. So, we need two-three local head offices. All these need to be worked out,” he said.
However, in the next 10 years, all the five subsidiaries — State Bank of Hyderabad, State Bank of Mysore, State Bank of Travancore, State Bank of Bikaner and Jaipur and State Bank of Patiala — will be merged with SBI, he added.