BMB-SBI merger might get nod in some months

Cabinet approved the merger of 5 associate banks with SBI, making it among top 50 global lenders

The Union Cabinet could take a decision on merging Bharatiya Mahila Bank (BMB) into State Bank of India (SBI) in the coming months.

“It will happen soon. Over the coming few months, you can expect an approval,” a senior official in the know told Business Standard.

On Wednesday, the Cabinet approved merger of five associate banks with SBI, which would make it among the top 50 global lenders. BMB was part of the proposal but its approval was not given.

“You need to look at synergies in considering a merger. The five associate banks are what one would consider mature assets. BMB is