The State Bank of India is a government-owned Corporation headquartered in Mumbai Maharashtra. It is an Indian multinational, public sector and financial services company. Here you will get sbi merger banks list.
The SBI bank is formed by merging of many other banks of Indian region, now the company is ranked 216th on Fortune Global 500 list of the world’s biggest Corporation as of 2017.
The SBI Bank holds 23% market share in assets, besides a share of one-fourth of the total loan and deposit market.
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sbi merger banks list
The predecessor of SBI bank is an imperial bank of India (1921- 1955), Bank of Calcutta (1806-1921), Bank of Bombay(1940-1921), Bank of Madras (1843 -1921).
The banks which merge with SBI Bank were state bank of Bikaner and Jaipur (SBBJ),State bank of Hyderabad (SBH),State bank of Indore (SBN),State bank of Mysore (SBM),State bank of Patiala(SBP),State bank of Saurashtra (SBS), State bank of Travancore (SBT) and Bharatiya Mahila Bank.
State bank of Bikaner and Jaipur
state bank of Bikaner and Jaipur(SBBJ)was a major Indian Bank. It was a subsidiary is State bank of India, with which it was merged. As of 2015, SBBJ has 1,360 branches, mostly located in the state of Rajasthan.
Its branch network out of Rajasthan covers all the major business centers of India. The SBBJ get into the industry of Banking, Insurance, Capital Market and allied industries
The plan to make SBI one of the top 50 banks in World affected SBBJ very much. In 2016, the plan to merge SBBJ with its five to-subsidiaries was made, and it was ratified by the government of India on 15 February 2017. It finally merged with SBI on 31 March 2017.
STATE BANK OF HYDERABAD
State bank of Hyderabad is a nationalized bank in India, with headquarters at Gunfoundary, Anita, Hyderabad, Telangana.SBH has over 2,000 branches and about 18,000 employees.
The bank gets into the industry of Banking, Insurance, Capital Markets, and allied industries.
The plan to make SBI one of the top 50 banks in the world affected SBH.
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The plan was introduced in 2016, and on 15 February 2017, the government of India ratified it.
SBH finally merged with SBI on 31 March at 2017, along with its co-associates state bank of Travancore, state bank of Mysore, state bank of Patiala, and Bharatiya Mahila Bank