Sunday, June 18, 2017

SBI Merger


Merger of Associate Banks with SBI
All branhces of -

  1. State Bank of Bikaner and Jaipur (SBBJ)
  2. State Bank of Hyderabad (SBH)
  3. State Bank of Mysore (SBM)
  4. State Bank of Patiala (SBP), and
  5. State Bank of Travancore (SBT)
will function as branches of State bank of India (SBI) w.e.f April 1, 2017.

The merger order of all these 5 associate banks with SBI has been issued by the Government of India, as -
  1. Acquisition of State Bank of Bikaner and Jaipur Order 2017
  2. Acquisition of State Bank of Hyderabad Order 2017
  3. Acquisition of State Bank of Mysore Order 2017
  4. Acquisition of State Bank of Patiala Order 2017
  5. Acquisition of State Bank of Travancore Order 2017,
dated February 22, 2017, and were published under Extraordinary Part-II Section-3 Subsection-i in The Gazette of India sanctioning the Acquisition of SBBJ, SBH, SBM, SBP, and SBT by SBI in terms of SBI Act, 1955 Section 35 Subsection 2.




Merger of Bharatiya Mahila Bank with SBI
All branches of Bharatiya Mahila Bank (BMB) will function as branches of State Bank of India (SBI) w.e.f April 1, 2017.

The merger order of BMB with SBI has been issued by the the Government of India as - Acquisition of Bharatiya Mahila Bank Limited Order 2017, dated March 20, 2017, and was published under Extraordinary Part II Section-3 Subsection-i in The Gazette of India sanctioning the Acquisition of SBM by SBI in terms of SBI Act, 1955 Section 35 Subsection 2.




Effects on SBI
  • This merger has catapulted SBI into one of the top 50 global banks (up from 55th position in 2016)
  • SBI's balance sheet size is Rs. 33 lakh crore
  • The total number of branches and ATMs of SBI has become 24,017 and 59,263 respectively.
  • The customer base of SBI is now over 42 crore.
  • Post-merger, SBI has the ability to successfully process 15,000 transactions / second, versus actual utilization of 4,600 transactions / second, making it "future ready".
  • SBI now has a deposit base of more than Rs. 26 lakh crore, and advances of Rs. 18.50 lakh crore (tentative figure)
  • Out of the 5 head offices of the associate banks, SBI will retain only 2. 3 head offices of the associate banks will be unbound along with 27 zonal offices, 81 regional offices, and 11 network offices (according to SBI MD Dinesh Kumar Khara)







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