(BS)
Post-merger of five associate banks and the Bharatiya Mahila Bank, top public sector lender State Bank of India (SBI) began operations on Monday with 500 million customers, SBI Chairperson Arundhati Bhattacharya announced here. The associate banks which merged with the SBI are State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank Of Hyderabad, State Bank of Mysore and State Bank of Travancore besides the Mahila Bank.
“The SBI opened as ‘one bank’ today (Monday) and will continue to operate in the same manner as before post-merger. New products and services will come across more seamlessly,” Bhattacharya told the media.The treasuries of the SBI and associates have also been completely integrated and have now started work as a single entity after the merger process, she added.The combined entity will enhance productivity, increase operational efficiency, mitigate geographical risks, drive synergies across multiple dimensions while ensuring higher levels of customer delight, she said.
