Beyond such adjustments, scale economies are mentioned frequently by bankers as a causal factor in bank consolidation, although academic research has not tended to find much evidence of overall economies of scale in banking. Still, economies of scale certainly exist for some bank operations, such as many back office functions.
Iyer, the Chairperson and Managing Director of Bank of India; Dr. Manu Chandaria, Chairman, Bank of India Local Advisory Committee; Mr. R.K. Verma, Chief Executive, Bank of India, Kenya; The Local Advisory Committee Members; Management and Staff of Bank of India, Kenya; Distinguished guests; Ladies and gentlemen: I am delighted to join you on this auspicious occasion to celebrate the Diamond Jubilee of Bank of India’s operations in Kenya.