What has surprised the market on State Bank of India’s merger announcement was the timing more than the ratio. Analysts expected an announcement in FY17, but fast-tracking the entire process has been a pleasant surprise for the market.
Shares of all three listed associate banks of State Bank India (SBI) have moved higher by up to 20% for the second straight trading session, after the Union Cabinet on Wednesday gave a go-ahead to the merger of five associate lenders and Bharatiya Mahila
All three listed associates banks of State Bank of India (SBI) – State Bank of Mysore, State Bank of Travancore and State Bank of Bikaner & Jaipur – were trading higher by more than 5% each on the BSE in early morning trade.
The first round of consolidation of public sector banks has been flagged off with the largest state-owned lender, State Bank of India (SBI), announcing its plans to merge its five subsidiaries and Bhartiya Mahila Bank (BMB) with itself.
Shares of all three listed associate banks of State Bank of India (SBI) have gained by up to 5% on the Bombay Stock Exchange (BSE) as media report suggests that SBI may merge its five associate banks and Bharatiya Mahila Bank (BMB) with itself.
State Sector Bank Employees Association (SSBEA) comprising of the unions in the five associate banks has decided to go for an all India strike in five associate banks on June 7 and July 28, 2016, opposing merger with State Bank of India (SBI).
State Bank of Mysore today reported 30 per cent jump in net profit to Rs 131.98 crore for the July-September quarter on the back of fall in NPAs as well as lower provisioning for bad loans and contingencies.
Bengaluru-based public sector lender State Bank of Mysore on Thursday reported a 27 per cent rise in net profit at Rs 136 crore for the fourth quarter ended March, compared to Rs 107 crore in the corresponding quarter of FY14.Total income for the quarter
Bengaluru-based public sector lender State Bank of Mysore (SBM), an affiliate bank of State Bank Group, on Friday reported 13 per cent rise net profit at Rs 96 crore for the third quarter ended December 2014, compared to Rs 85 crore in the corresponding
State Bank of Mysore has rallied 9% to Rs 533 on BSE after reporting a more than three-fold jump in net profit at Rs 102 crore in the July-September quarter (Q2) on higher interest income, lower provisions and better recovery from written-off accounts.
All three listed subsidiaries of State Bank of India (SBI) - State Bank of Bikaner and Jaipur (SBBJ), State Bank of Mysore (SBM) and State Bank of Travancore (SBT) - have rallied by up 18% on the bourses on reports that SBI proposes to merge its five
State Bank of Mysore (SBM), the Bangalore-based associate bank of SBI Group, today said its net profit for the quarter ended March 31, 2014 increased 41% to Rs 107 crore compared to Rs 76 crore in the corresponding quarter last year.