Associate Bank

Associate Bank

A bank that belongs to a network of organizations that provides benefits for all members. For example, many banks are associate banks for Visa, which provides debit card and credit card services for these banks. Banks may pay to be associated with such ventures.
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Commercial Bank of Qatar has denied reports that it was attempting to sell its 40 per cent stake in its UAE-based associate bank, United Arab Bank (UAB).
The ratings also consider SABB's strong franchise and the benefits of being an associate bank of HSBC and the managerial and specialised expertise provided to SABB under a technical services agreement.
One of the main challenges that the bank will face is bridging differences in pay packages and superannuation benefits between the parent and the associate bank employees.
The State Bank of India (NSE: SBIN) has said that it will be naming the associate bank that it will merge with, by the end of the month.
In 2008 State Bank of India had merged another associate bank, State Bank of Saurashtra, with itself.
BO), and in 80,000-odd associate bank offices, will observe indefinite strike with effect from October 20 in order to resolve long pending issues of improvements in the pension scheme and implementation of various understandings reached with the federation from 2005.
State Bank of India (NSE: SBI), considered to be the biggest bank in India, and its five associate banks, had a wilful defaulter list of about 1,628 people who owe INR168.
The services of empanelled Vendors will be also used by Associate Banks.
His responsibilities will include advising the Board as well as representing Commercial Bank on the Board and Board Committees of the subsidiary and associate banks, Alternatifbank in Turkey, United Arab Bank in the UAE and National Bank of Oman in Oman.
India-based State Bank of India (NSE: SBI), considered to be the biggest bank in India, has said that its associate banks do not need fresh capital injections this year.
Contract awarded for purchase required goods to associate banks of welfare service (sol.
The bank may also decide not to merge all of its five associate banks, allowing some of them to continue in their existing structure.
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