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State Bank of India (SBI) is likely to “rationalise” (or close down) 24-odd branches in the Bengal circle post merger with associated banks and the Bharatiya Mahila Bank.
The circle will include West Bengal and Sikkim and the Union Territory of Andaman and Nicobar Islands.
According to Partha Pratim Sengupta, Chief General Manager (Bengal Circle), the rationalisation post merger is likely to be completed by September this year. Rationalisation will include branches of SBI as well as the associate banks.
Total branches 1,300Around 52 associate bank branches, including three of the Bharatiya Mahila Bank in these States and Union Territory have been merged with SBI taking the total branch tally to 1,300.
“We are targeting to complete the rationalisation by September,” Sengupta said on the sidelines of an interactive session organised by the Bengal National Chamber of Commerce and Industry (BNCCI).Post the merger, SBI’s deposit base has gone up by ₹12,000 crore and advances by ₹11,000 crore. The total business of the bank in the Bengal circle will be around ₹200,000 crore (deposits and advances put together).
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