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23rd January 2018, 03:01 PM
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Join Date: Aug 2012
Re: State Bank Of Mysore Merger With State Bank Of India

About the State Bank of India

State Bank of India is an Indian multinational, public sector banking and financial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra.

The State Bank of Mysore Along With All Associates bank of State Ban of india is Merged in to the State Bank of India On 1 St April 2017

After Merger

After the merger, SBI is set to be among the top 50 large banks of the world. SBI was ranked 52 in the world in terms of assets in 2015,

The merged entity will become a banking behemoth with an asset base of about Rs 37 lakh crore with 22,500 branches and 58,000 ATMs. The merged will also have over 50 crore customers.

the notification states that the shares would be delisted on 1 April. The shares would be converted to those of SBI, according to the swap ratio approved by the bank s board and the government.

The whole-time directors, including the managing directors of all five associate banks, will cease to hold office and their respective boards will stand dissolved.

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