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SBI To Wrap Up Merger By May, Says Chief Arundhati Bhattacharya
Arundhati Bhattacharya. (RAVEENDRAN/AFP/GettyImages
On 1 April, the State Bank of India (SBI) merged five of its associate banks – State Bank of Bikaner and Jaipur, State Bank of Travancore, State Bank of Mysore, State Bank of Hyderabad and State Bank of Patiala, and Bharatiya Mahila Bank with itself.
Following the merger, Arundhati Bhattacharya, chairperson of SBI spoke to Mint and said that wrap-up would be done by May.
"We are going to wait till the 22 or 24 of April to finish the audit; and then, the data merger of banks will start taking place. That is expected to finish by end-May. Once the data merger is finished, thereafter, there is nothing which is left over. After that, there is only the question of doing rationalisation, which will take place over a period of time. It will not happen very quickly. So, we should give 18 months’ time for all of that because there is the question of relocating branches. You have to locate to other places, move people and all of that takes a bit of time." she told the Mint.
Arundhati Bhattacharya's tenure as the chief of SBI will come to an end around October 2017.
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