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Visakhapatnam, May 22

The SBI Associate Banks Officers' Association is opposed to the proposed merger of the seven associate banks of the SBI with the main bank, as "the associate banks are functioning well and there is no need for such a move." Speaking to newspersons after a meeting of the executive of the association, Mr A.C. Chandra Prasad, General Secretary, said that the combined net profit of the seven associate banks stood at Rs 2,030.74 crore last fiscal, while total business was Rs 3,46,000 crore.

More Stories on : Trade & Labour Unions | Public Sector Banks | State Bank of India | Andhra Pradesh | Mergers & Acquisitions

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