BANK NEWS
SBI will have to spend USD 250 mn for proposed merger with 6 associates
Chennai: Global credit rating agency Moody`s Investors Service on Friday said the merger idea mooted by State Bank of India (SBI) of six banks with itself would cost around Rs 1,660 crore ($250 million) and will have limited impact on its credit metrics.
The agency also said the opposition to the merger by the employee unions also poses considerable risk that potential synergies of the merger may not materialise.First post.com
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