As a part of the strategy to take over all its associate banks, State Bank of India is now planning to assimilate State Bank of Mysore into itself. It has already taken over two of its associate banks- State Bank of Saurashtra and State Bank of Indore in year 2008 and 2010 respectively. A senior bank official said, "We will take over smaller associate banks first as it is easier to integrate them. We have gained valuable experience through the acquisition and integration of State Bank of Saurashtra and State Bank of Indore."
State Bank of India is already the largest bank in the country; the unification will strengthen its grasp in the country by manifolds. It will also help the bank to utilize the talent available in the associate banks in the best manner and hence will yield benefit to the bank. |
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