Date:11/05/2006 URL: http://www.thehindubusinessline.com/2006/05/11/stories/2006051103660600.htm

Back SBBJ mulls stock split, public issue

Our Bureau

Coimbatore , May 10

State Bank of Bikaner and Jaipur (SBBJ) is contemplating a stock split and at hitting the capital market shortly. The bank, however, would have to wait for the necessary legislation (expected) to be passed in the extended Parliament session before taking a decision at the board level, bank sources said.

The Rs 100- share is quoting at over Rs 4,200.

"It is still not in demat form. The stock split would give us a better edge. We will hit the capital market because we need a bigger base to conform to the Basel II norms. The board will take a call on these issues," Mr M. Ramaswamy, its Chief General Manager, said.

To a query on the associates' merger with the State Bank of India, Mr Ramaswamy said: "we have emerged strong. We probably will look at acquisition," he said but declined to answer when asked if the bank had identified a potential proposal for acquisition.

SBBJ's business process re-engineering initiatives, aimed at "change management" has, according to Mr Ramaswamy, yielded good results.

The bank has identified and posted 15 Relationship Managers to cater the High Networth individuals .