SBI Merger
 

Hii Sir, I wants to get the information About the Merger of the State bank of India ?

Re: SBI Merger
 

State bank of IndiaBSE -0.97 %, the country's largest lender, on Thursday approved the merger of its operations with five of its associate banks.
Names of the Associate banks

State Bank of Bikaner & Jaipur
State Bank of Hyderabad
State Bank of Mysore
State Bank of Patiala
State bank of Travancore

About the Mergers of the State bank of India


1) This is the first ever large-scale consolidation in the Indian banking industry.

2) The merger will create a banking behemoth with an asset book of Rs 37 lakh crore.

3) SBI will give 28 of its shares for every 10 shares held of State Bank of Bikaner BSE -1.18 % and Jaipur.


4) It will give 22 of its shares for every 10 shares held of State Bank of Mysore.

5) The lender will give 22 of its own shares for every 10 shares held of State Bank of Travancore.

6) SBI will give 4,42,31,510 shares with face value of Re. 1 for every 100 crore equity shares of Bhartiya Mahila Bank.

7) The merger will see SBI's ranking approve in the Bloomberg's largest bank by asset ranking. It may well break through the 50-mark in the ranking.