Indian expats in Oman assured over SBT's merger into State Bank of India

Muscat: State Bank of Travancore’s (SBT) merger into State Bank of India (SBI) will not affect customers, a senior official from SBT said.
“In fact, customers can receive better rates and benefits due to the merger. There will be no hassles for the customers. The merger will be smooth,” said CR Sasikumar, SBT managing director.
In a move to improve its treasury operations and cut redundancies, SBI is planning to merge State Bank of Bikaner and Jaipur, State Bank of Travancore, State Bank of Patiala, State
Bank of Mysore and State Bank of Hyderabad into itself.
In India, SBI chairperson Arundhati Bhattacharya said the prime goal of the merger is to improve the efficiency of the bank.
“By merging various associate banks with the SBI, we hope to create a formidable organisation,” she said.
All stakeholders, including employees and shareholders, will equally benefit from the move,” Bhattacharya said.
SBI is a government-owned corporation with its headquarters in Mumbai, Maharashtra. As of 2014-15, it had assets of INR 20,480 billion (USD 310 billion) and more than 14,000 branches, including 191 foreign offices spread across 36 countries, making it the largest banking and financial services company, by assets, in India.