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SBI merged with all its subsidiaries and entered in the league of top 50 Global Banks

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On April 1, 2017, State Bank of India (SBI) successfully merged with its five associate banks and Bharatiya Mahila Bank. By this merger, SBI entered the league of Top 50 Global Banks which ranks 44th and a balance sheet size of Rs 41 lakh crore along with the new logo.

The associate banks of SBI areSBI Merging with 5 banks

  1. State Bank of Bikaner and Jaipur,
  2. State Bank of Hyderabad,
  3. State Bank of Mysore,
  4. State Bank of Patiala and
  5. State Bank of Travancore.

Highlights

With the merger, SBI now has 2.77 lakh employees, 50 crore customers, more than 25000 branches and 58000 ATMs.

  • The market share of SBI has increased to nearly 22 per cent from 17 percent.
  • Now SBI has the largest branch and ATM network in India.
  • Customers can access SBI across the globe at over 190 foreign offices in 36 countries.
  • The tag line of all the merging banks will be “Banker to every Indian”.

About State Bank of India (SBI)

State Bank of India (SBI) is a Public Sector Banking (PSB) and financial services company in India founded on June 2, 1806 as Bank of Calcutta.

  • Headquartered in Mumbai, Maharashtra, the bank was renamed as State Bank of India from July 1, 1955.
  • Chairman: Arundhati Bhattacharya.

Top banks in World

Following are the top banks in the world with their asset size

S.NO BANK NAME AND COUNTRY ASSETS
1 Industrial & Commercial Bank of China Limited, China 3,420,520 USD
2 China Construction Bank Corporation, China 2,825,998 USD
3 Agricultural Bank of China Limited, China 2,740,046 USD
4 Bank of China Limited, China 2,589,764 USD
5 BNP Paribas SA, France 2,165,483 USD
6 China Development Bank Corporation, China 1,943,451 USD
7 JPMorgan Chase Bank National Association, USA 1,914,658 USD
8 Japan Post Bank Co Ltd., Japan 1,839,762 USD
9 The Bank of Tokyo-Mitsubishi UFJ Ltd, Japan 1,779,394 USD
10 Deutsche Bank AG, Germany 1,769,063 USD

New LOGO of State Bank of India (SBI)

  • The background to the SBI signboard has been changed from white to inky blue.
  • SBI logo or the monogram is few shades lighter than the existing blue.
  • SBI legend will be seen in white color and will be written in a new font called Effra.
  • The designing and rebranding has been done by a company called Design Stack.
  • The SBI logo symbolizes its role of a custodian that will keep customers money safe.