SBISBI has already approved merger of its associate banks and Bhartiya Mahila Bank. Cabinate has given approval for merger of 5 associate banks with RBI, although no decision about merger of BMB.

Here are some facts about the merger and position of SBI post merger:

Banks which will be merged with SBI:

State Bank of Travancore, State Bank of Mysore, State Bank of Bikaner & Jaipur,  State Bank of Hyderabad, State Bank of Patiala and Bhartiya Mahila Bank.

Key Facts

  • Biggest merger/ consolidation in Indian Banking Industry.
  • Gross NPA of five associate Banks are 9.14% for quarter ending June 16.
  • Gross NPA of SBI are 6.94% for quarter ending June 16.
  • 5 Associate Banks of SBI reported a loss of Rs.2018 crore for the quarter ending June 16.
  • Standalone profit of the SBI for the quarter ending June 16 is Rs.2521 crore

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Position of SBI post merger:

  • SBI will be in legue of Top 50 banks in world.
  • Post Merger Asset base of SBI will be 37 lac crores
  • SBI’s asset base will be 5 times of ICICI Banks’s asset base
  • SBI’s branch network is presently 14000+, which will increase to 21000+
  • SBI has presently around 2.94 lacs employees, which will increase to around 3.68 lacs.
  • Employees of associate banks will get 15 days to decide to accept a new job with the State Bank of India or opt for voluntary retirement via an ‘option letter’
  • SBI will issue its shares to the shareholders of merged banks.
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