New Delhi: A top official of the Bharatiya Mahila Bank (BMB) on Thursday said it had not heard anything from the government on its merger with another bank.
"Many reports have come on the merger of the bank...we have not been informed about it by the government," BMB Executive Director Swathi S M said here, adding the lender was functioning as usual and continuing with its expansion plan, and that even today the lender had opened a branch, leading the tally to 85 branches.
Media reports suggested the government was considering merger of BMB with State Bank of India.
"We expect the number of branches to increase to 110 by the end of March this year," she said.
The lender posted a profit of Rs 14 crore for the first six months of current financial year against Rs 19 crore in 2014-15.
Expressing concern over the exodus of middle management from the bank to their parent organisation, Swathi said there was an urgent need for recruitment of senior persons in the bank.
The bank, which was set up in 2013, had appointed senior officials on three-year deputation from other banks.
The term of most of these 100 senior officials drawn from 28 public sector banks or financial institutions are coming to an end in next few months, she said.
BMB will be left without senior management in case the government did not extend their deputation term or allow for lateral recruitment in those segments, she added.
As of now the bank has its own staff up to scale-IV level, while scale above that is on deputation basis, she added.
After the board approval later this month, she said, the bank will submit proposals related with HR plan and business plan to the Ministry of Finance.
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