State Bank of Mysore was originally established as Bank of Mysore Ltd. in 1913, under the sponsorship of the erstwhile Government of Mysore. Engineer-Statesman Late Dr. M.Visvesvaraya headed the banking committee during the time, to establish the Bank. In March 1960, the Bank became a subsidiary of State Bank of India, which holds 92.33% of its shares. In the present time, State Bank of Mysore caters to its customers through its wide network of branches, spread in different parts of India.
Branches And ATM Services
The Bank has as many as 671 branches, with 20 extension counters all over India and six specialized SSI branches. The Bank has 4 industrial finance branches, 3 corporate accounts branches, 4 specialized personal banking branches, 10 agricultural development branches, 3 treasury branches, 1 asset recovery branch and 7 service branches, which provide wide range of services to the customers.
The customers of State Bank of Mysore are now provided easy access to money through more than 7500 State Bank Group ATMs and the ATMs of UTI Bank, HDFC Bank, Indian Bank, Andhra Bank, Punjab National Bank, Corporation Bank and Dena Bank, Union Bank of India, Bank of India, UCO Bank, Canara Bank, IndusInd Bank & Bank of Rajasthan.
State Bank of Mysore boasts of being the first ever Karnataka-based Bank to have fully networked branches. The Bank is included in Core Banking Solution from 31 December 2005. Within one year, the Bank converted all its branches to Core Banking, in order to make it more convenient for its customers, who can now bank with State Bank of Mysore, anytime, anywhere in India. The net worth of State Bank of Mysore, recorded in on 31 March 2008, is Rs.13778.10 Millions and the Bank. The capital adequacy ratio of the Bank, as recorded at the end of March 2008, is 11.73%.
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