The combined entity will have 23,000 branches in total.
According to The Economic Times, the Cabinet approved a proposal to merge the five subsidiaries of State Bank of India with the parent, kick-starting consolidation among public sector lenders.
The merger will bring nearly a quarter of all outstanding loans in India’s banking sector to SBI’s books. The combined entity will have a mammoth network of nearly 23,000 branches, further increasing the dominance of the nation’s largest bank.
Read the full story here.
Join Asian Banking & Finance community
Since you're here...
...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.
We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.
Let us help you drive your business forward with a good partnership!