State Bank of Mysore

Not to be confused with SBM Bank India.
State Bank of Mysore
Company typePublic sector
BSE: 532200
NSE: MYSOREBANK
ISININE651A01020
IndustryBanking, Insurance, Capital Markets and allied industries
PredecessorThe Bank of Mysore Ltd.
Founded2 October 1913;
111 years ago (1913-10-02) as The Bank of Mysore Ltd.
FounderSir M. Visvesvaraya
Defunct31 March 2017 (2017-03-31)
FateMerged with State Bank of India
SuccessorState Bank of India
Headquarters
Bangalore
Number of locations
1074 branches and 9 extension counters[1]
Area served
India
Key people
ProductsDeposits, Personal Banking Schemes, C & I Banking Schemes, Agri Banking Schemes, SME Banking Schemes
ServicesLoans, Deposits, Mobile Banking, ATM Services, NRI Services, Real Time Gross Settlement (RTGS) Transactions, National Electronic Fund Transfer (NEFT), Internet Banking, Debit Card[2]
Increase₹276 Crores[citation needed]
Total equityIncrease3988 Crores as on 31 Mar 2014[3]
Number of employees
10,226 (31 December 2016)[4]
  • 3,600 supervisory staff
  • 6,626 non-supervisory staff
ParentState Bank of India (90%)
Websitebank.sbi

State Bank of Mysore was a Public Sector bank in India, with headquarters at Bangalore. It was one of the five associate banks of State Bank of India, all of which were consolidated with the State Bank of India with effect from 1 April 2017.

State Bank of Mysore was established in the year 1913 as The Bank of Mysore Ltd. under the patronage of Maharaja Krishna Raja Wadiyar IV, at the instance of the banking committee headed by the great Engineer-Statesman, Bharat Ratna Sir M.Visvesvaraya. During 1953, "Mysore Bank" was appointed as an agent of Reserve Bank of India to undertake Government business and treasury operations, and in March 1960, it became a subsidiary of the State Bank of India under the State Bank of India (subsidiary Banks) Act 1959. 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 bank had regional offices in Bangalore, Mysore, Mangalore, Mandya, Hassan, Shimoga, Davangere, Bellary, Tumkur, Kolar, Chennai, Coimbatore, Hyderabad, Mumbai and New Delhi. The bank's turnover in the year 2013-2014 was around US$19 Billion and Profit about US$46 Million.

  1. ^ "State Bank of Mysore: Into the sunset after 104 years". 31 March 2017.
  2. ^ "State Bank of Mysore - SBM - State Bank of Mysore (SBM) India".
  3. ^ "Our Profile". Archived from the original on 5 December 2011.
  4. ^ "State Bank of Mysore: Into the sunset after 104 years". 31 March 2017.
  5. ^ "History". Archived from the original on 5 December 2011.
  6. ^ Prajavani Newspaper, Bangalore.Date:26.9.2012