State Bank of Hyderabad

About State Bank of Hyderabad

State Bank of Hyderabad had been constituted as Hyderabad State Bank on 8th August 1941 under Hyderabad State Bank Act, 1941. It served as the central bank of the erstwhile State of Hyderabad, covering present-day Telangana region of Andhra Pradesh, Hyderabad-Karnataka of Karnataka and Marathwada of Maharashtra. Their functions include managing the currency - Osmania Sikka and public debt, leaving aside the usual functions of commercial banking. Gunfoundry in Hyderabad saw the first branch of the bank on 5th April, 1942.

It was in the year 1953 that the Bank overtook the assets and liabilities of the Hyderabad Mercantile Bank Ltd. and started conducting Government and Treasury business as RBI's agent. Then right in 1956, the Bank was taken over by RBI as its first subsidiary and the name got rechristened from Hyderabad State Bank to State Bank of Hyderabad. More transition waited for the bank as the bank became a subsidiary of the State Bank of India one 1st October 1959 and presently it is the largest Associate Bank of State Bank of India.

All the branches of the State Bank of Hyderabad are completely intertwined under Core Banking Solutions - with a wide product and service range for its customers. Latest technologies like Internet Banking, ATMs - all customers are entitled to these facilities. With a pan India presence, the Bank operates through more than 1,000 branches.

Financial performance of State Bank of Hyderabad (quarterly and annual basis)

Annual results

Rs in thousands	31st March 2009	31st March 2008
Net Profit for the year	615,80,90	556,98,88

Quarterly results

Rs in crore	30th Sep 2009	30th Sep 2008
Net Profit	234.36	184.84

>> More Banks in India