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Merger of SBI associate banks not priority, says Arundhati Bhattacharya

On Tuesday, the State Bank of India chairperson said that currently the bank is not looking at merging its associate banks, and is focusing more important challenges.

“At some point of time, yes we’ll merge. But I don’t think this is the right time. Because on Tuesday there are a lot of challenges and those challenges are more immediate and important than merging banks,” Bhattacharya said.

She further said that the associate banks are performing well on their own and have their own strength. “Even if I merge them inside, my balance sheet will not go up, the group balance sheet remains the same. And therefore, the valuation I get will almost remain the same. Only thing that will happen is, I can bring about greater efficiency. But I can do that even without merging.”

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