The Hindu Business Line : `SBI open to acquisitions'

STATE Bank of India (SBI) has an open mind about acquisition of other banks, according to its Managing Director, Mr C. Bhattacharya. Talking to presspersons here on Saturday, Mr Bhattacharya said the bank has already been sounded out in this regard.

"We are seriously looking into the opportunities," he said. He, however, declined to give the details of the offers his bank had received.

Mr Bhattacharya felt that consolidation of banking operations was inevitable, and therefore, the country's banking scene would soon be marked by a lot of mergers and acquisitions.

SBI, the Managing Director said, hoped to achieve a jump in business volume from the next quarter as a sequel to the computerisation of operations.

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