SBI hopes to kick off merger of its associates as well as Bharatiya Mahila Bank with itself by October-end and try to complete the process by March next, making it the 45th largest lender globally in terms of assets. Early August, the central board of SBI had approved the acquisition of all the five associate banks and Bharatiya Mahila Bank and finalised the swap ratios for the merger. SBI has three listed associate banks--State Bank of Bikaner & Jaipur, State Bank of Mysore, State Bank of Travancore, and two unlisted associates--State Bank of Patiala and State Bank of Hyderabad. In the case of Bharatiya Mahila Bank, 4,42,31,510 shares of SBI will be swapped for every 100 crore of Rs 10. SBI first merged State Bank of Saurashtra with itself in 2008.

Source: dna September 04, 2016 14:42 UTC