Five State Banks, Bharatiya Mahila Bank merge with SBI

Five State Banks, Bharatiya Mahila Bank merge with SBI

Five associates and the Bharatiya Mahila Bank became part of the State Bank of India, catapulting the country’s largest lender to among the top 50 banks in the world.

State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore, besides Bharatiya Mahila Bank merged with SBI.

The total customer base of the bank will reach 37 crores with a branch network of around 24,000 and nearly 59,000 ATMs across the country. The merged entity will have a deposit base of more than 26 lakh crore rupees and advances level of 18.50 lakh crore rupees.

Welcoming all the stakeholders of merged entities, SBI Chairperson Arundhati Bhattacharya said the bank will strive to conclude the transition process within a quarter.