BBB conducts interviews for SBI chairman's post

New Delhi, Jun 29 () The

Banks Board Bureau

headed by former CAG Vinod Rai today interviewed four candidates for the SBI chairman's post, which will fall vacant after the retirement of Arundhati Bhattacharya in October. The four SBI managing directors were interviewed by three sub-committees under the BBB, sources said. B

Sriram

, the bank's senior most managing director, along with three others Rajnish Kumar, P K

Gupta

and

Dinesh Kumar Khara

faced the panel, sources said. Of these four, P K Gupta and Dinesh

Kumar

Khara have relatively higher tenure left in the bank, while both Rajnish Kumar and Sriram's retirement is due in 2018. Bhattacharya will complete her four-year term as the chairperson of SBI on October 6. Appointed in 2013, as the bank's first female chairperson, she got one-year extension in October 2016 as SBI was to merge its associate banks and

Bharatiya Mahila Bank

with itself. The SBI's chairman post now assumes more significance as the bank's merger with six other entities has taken it into the league of top 50 banks globally in terms of assets.

State Bank of Bikaner

and Jaipur (SBBJ), State Bank of Hyderabad (SBH),

State Bank of Mysore

(SBM),

State Bank of Patiala

(SBP) and

State Bank of Travancore

(SBT), besides

BMB

, merged with SBI with effect from April 1. The process of integration would at least take a year. The government had in February approved the merger of these five associate banks with SBI. Later in March, the

Cabinet

approved the merger of BMB as well. SBI first merged

State Bank of Saurashtra

with itself in 2008. Two years later, State

Bank of Indore

was merged. For the fourth quarter ended March 2017, the bank reported more than doubling of its net profit on the back of increased lending and reduction in provisioning for bad loans. Net profit of the bank on standalone basis rose to Rs 2,814.82 crore for the March quarter as against Rs 1,263.81 crore in the same period of previous fiscal 2015-16. For the entire fiscal ended March 2017, the net profit of the bank improved by 5.36 per cent to Rs 10,484 crore as against Rs 9,951 crore in the previous fiscal. DP CS MKJ
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