State Bank of Mysore
State Bank of Mysore logo
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Native name
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ಮೈಸೂರು ಬ್ಯಾಂಕ್ |
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| Public sector | |
| Traded as | : : MYSOREBANK ISIN: INE651A01020 |
| Industry | Banking, Insurance, Capital Markets and allied industries |
| Fate | Merged with State Bank of India |
| Predecessor | The Bank of Mysore Ltd. |
| Successor | State Bank of India |
| Founded | 2 October 1913 as The Bank of Mysore Ltd. |
| Founder | Sir M. Visvesvaraya |
| Headquarters | Bengaluru |
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Number of locations
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1074 branches and 9 extension counters |
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Area served
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India |
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Key people
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| Products | Deposits, Personal Banking Schemes, C & I Banking Schemes, Agri Banking Schemes, SME Banking Schemes |
| Services | Loans, Deposits, Mobile Banking, ATM Services, NRI Services, Real Time Gross Settlement (RTGS) Transactions, National Electronic Fund Transfer (NEFT), Internet Banking, Debit Card |
| Total equity |
 3988 Crores as on 31 Mar 2014 |
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Number of employees
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10,226 (December 31, 2016)
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| Parent | State Bank of India (holds 90.00% shares) |
| Website | statebankofmysore |
10,226 (December 31, 2016)
THIS BANK HAS MERGED WITH State Bank of India
State Bank of Mysore was a nationalised bank in India, with headquarters at Bengaluru. It was one of the five associate banks of State Bank of India.
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. The Bank's shares are listed in Bengaluru, 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. The bank had regional offices in Bengaluru, Mysuru, Mangaluru, Mandya, Hassan, Shivamogga, Davangere, Ballari, Tumakuru, 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.
The Bank had a chequered history and was the smallest of the five Associate Banks of State Bank Of India. The Bank suffered as the Staff Union and Officers Association had a strangle hold on the affairs of the Bank and lacked visionary management. The Bank was merged with its parent, State Bank of India on 1 April 2017.
Year - event
- The Bank actively participated in all Government sponsored schemes and contributed its share of financial assistance or the economically weaker sections through DIR, IRDP, Prime Minister Rojgar Yojna & SUME schemes.
- Crisil has reaffirmed the A+ & P1+ ratings assigned to the bond issue & the CD programme of bank.
- The Bank has closed its issue of unsecured non-convertible debentures after raising the target of Rs 60 crore.
-Enters the market with a coupon of 6.4% per annum for its Tier-II capital bonds issue of Rs.60cr on a private placement basis.
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