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This list of banks that have merged to form the State Bank of India includes financial institutions that were at one point or the other merged with the State Bank of India or any of its subsidiaries. This list includes the banks which have been subsidiaries or associates of the State Bank of India.
State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra.It is the 48th largest bank in the world by total assets and ranked 178th in the Fortune Global 500 list of the world's biggest corporations of 2024, being the only Indian bank on the list. [11]
After formation of Telangana in 2014, SBH was the lead bank of the newly created state. The State Bank of Hyderabad was merged with State Bank of India on 1 April 2017. SBH had over 2,000 branches and about 18,000 employees. The bank's business had crossed Rs. 2.4 trillion as on 31.12.2015 with a net profit of Rs. 8.12 billion.
The share of the bank sector held by the public banks continued to grow through the 1980s, and by 1991 public sector banks accounted for 90% of the banking sector. A year later, in March, 1992, the combined total of branches held by public sector banks was 60,646 across India, and deposits accounted for ₹1,10,000 crore.
The SBI has merged its Associate banks into itself to create the largest Bank in India on 1 April 2017. With this merger SBI has a global ranking of 236 on Fortune 500 index. The term commercial banks refers to both scheduled and non-scheduled commercial banks regulated under the Banking Regulation Act, 1949. [10]
Now the bank is an Associate Bank under State Bank Group and the State Bank of India holds 92.33% of shares. [5] The Bank's shares were listed in Bangalore, Chennai, and Mumbai stock exchanges. This bank had 976 branches and 10627 employees (June 2014) and the Bank has 772 branches (79%) in Karnataka State. [ 6 ]
The State Bank of India or SBI is an Indian multinational, public sector banking and financial services statutory body, headquartered in Mumbai. SBI is ranked as 216th in the Fortune Global 500 list of the world's biggest corporations of 2018.
Bharatiya Mahila Bank (BMB; lit. ' Indian Women's Bank ') was a fully owned subsidiary of State Bank of India based in Mumbai, India.Former Indian Prime Minister Manmohan Singh inaugurated the system on 19 November 2013 on the occasion of the 96th birth anniversary of former Indian Prime Minister Indira Gandhi. [1]