If you were an account holder the
associate bank, you will not have to register afresh.
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 chairman of the bank, Pratip Chaudhuri, said that the bank is not planning to merge any
associate bank this year.
The rating action follows completion of the merger of the bank and its
associate bank, State Bank of Indore (SBoI).
An official said, 'Post-merger, an account can't be classified as standard in the books of one
associate bank and sub-standard for another
associate bank or parent bank.
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.
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 (SBI) (NSE: SBI) has said that it cannot rule out write-offs on account of its merger with five
associate banks.
State Bank of India (SBI), which merged its five
associate banks - State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM), State Bank of Patiala (SBP) and State Bank of Travancore (SBT) - and Bharatiya Mahila Bank (BMB), earlier this month, is gearing up to offer seamless banking services to its non-resident Indian (NRI) customers.
Summary: State Bank of India seems to be biting off more than it can chew by merging five
associate banks with itself.
With an intention to rationalise retail banking network the State Bank of India (SBI) will merge corporate finance branches of
associate banks with parent branch and prepare detailed plan.
