Mumbai: State Bank of India may not immediately merge one of its associate banks into it, its Chairperson Arundhati Bhattacharya said on Friday.
"At this point, we are not looking at anything (merger of one of the associate banks), immediately," Bhattacharya told reporters here.
SBI has five associate banks, namely State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Patiala, State Bank of Travancore, besides State Bank of Mysore.
She said that currently four out of the five associate banks have performed better.
"We expect all associate banks to turn in better results in the next financial year. So, we would like them to stabilise and come out at a particular level. Thereafter we will think about it (merger)," she said.
At present, there are too many things to be done in the group bank than to go for mergers of associate banks, she said.
She also said that SBI had also not prepared any blueprint for merger of its associate banks.
