Fifty-three branches of the State Bank of India (SBI) in five districts of north Kerala will be closed in the next couple of months, if the “rationalisation” plan of the bank goes through.
Most of the branches were once part of the State Bank of Travancore (SBT) network. They will be merged with the nearest SBI branches. There are 19 branches identified for closure or merger in Kozhikode district; eight in Kasaragod; 12 in Kannur; 12 in Malappuram and two in Wayanad. A total of 197 branches, which include some originally SBI ones too, are proposed to be shut down and merged with other branches across Kerala.
In Kerala, the majority of branches being closed are of former SBT as the recent merger of the SBT with SBI made several branches “superfluous”. However, across the country the SBI is pushing a right-sizing plan.
The bank wants to rationalise the branch network, meaning downsizing the number. It also wants to downsize employees as well as customers. This is part of the bank’s plan to go global with a slim, healthy body.
