Decision on SBH-SBI merger likely on Jan 24

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Hyderabad, Jan 17 (UNI) The merger of State Bank of Hyderabad (SBH) with its parent State Bank of India (SBI) is likely to be decided on January 24 when the Board of Directors of SBI meet in Mumbai.

''The Board of Directors of SBI is meeting at Mumbai on January 24 and probably they will set a time table for the merger,'' bank sources said.

The SBH Board has called for a meeting here on January 25 (a day after the SBI Board meet) most probably to ratify the merger, the sources said.

SBH Managing Director Amitabha Guha at a news conference here today said he would not be going to Mumbai on January 24 to get a clear picture on SBI board's deliberation.

He said the SBH, which registered a profit of Rs 3000 crore as on December 2007, was likely to touch Rs 5000 crore figure by March 2008.

'' Though the SBH has the stability and base to fight in the competitive market, all indicants point to a likely merger,'' he added.

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