Consolidation good for SBI: Kamath

K V Kamath, managing director and CEO, ICICI Bank today said the on-going consolidation exercise of State Bank of India (SBI) would give the public sector bank "great opportunities".

"SBI may have had indirect control over its subsidiaries already, but the merger would certainly give it lot more opportunities since consolidation can bring in better efficiency," Kamath added.

On the impact of the consolidation on ICICI Bank, Kamath said there would not be any effect on his institution where he believes the growth drivers are efficiency and productivity. "In the process, if we can overtake (SBI), it will be incidental."