State Bank Of India begins operations as merged entity from April 1

State Bank Of India begins operations as merged entity from April 1

Mumbai (Maharashtra) [India], Apr. 1 : The State Bank of India has merged its five Associate Banks - State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore besides Bharatiya Mahila Bank - with itself with effect from April 1.

With this six-way mega merger, the SBI has joined the league of top 50 banks globally in terms of assets.

The total customer base of the bank is now expected to reach 37 crore 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 Rs. 26 lakh crore and advances level of 18.50 lakh crore.

Source:TOPNEWS