State Bank of India (SBI) is set to take
over State Bank of Mysore (SBM) as India’s largest lender ramps up
its consolidation strategy.

Following on from merging with regional
lenders State Bank of Saurashtra in 2008 and State Bank of Indore
in 2010, the deal with SBM is expected to prelude mergers with
larger lenders such as State Bank of Travancore and State Bank of
Hyderabad.

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SBI already holds a stake of over 92% in
the 700-branch-strong SBM.

As of end December 2011,
SBI operated a group network of 18,674 branches (up a net 768
outlets year-on-year), including 4,902 branches of its five
associate banks.

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