Processing .....please wait.. 
The article has been forwarded.... 
India's 8 Best Banks
By siliconindia
|
Tuesday, 22 November 2011, 01:35 IST |
6 Comments
5. State Bank of Hyderabad:
SBH has a total deposits of 
88,628 Crore and churns an operating profit of 2,319 Crore. The bank's establishment was done in the year 1942 by the last Nizam of Hyderabad named Mir Osman Ali Khan. Hyderabad had its own currency Osmania Sicca which was also managed by the bank. This was the only state at the time of British rule to have its own currency. In the year 1956, the bank merged with the mercantile bank of Hyderabad. The MBH was found by Raja Pannalal Pitti in 1935. After the merging, the bank was renamed as state bank of Hyderabad. The entire stocks of the bank were linked with the RBI. In the year 1959, the subsidiary bank act was passed and the banks of the princely states became the part of SBI and SBH was the first subsidiary of SBI. M Bhagavantha Rao is the MD of the bank.
88,628 Crore and churns an operating profit of 2,319 Crore. The bank's establishment was done in the year 1942 by the last Nizam of Hyderabad named Mir Osman Ali Khan. Hyderabad had its own currency Osmania Sicca which was also managed by the bank. This was the only state at the time of British rule to have its own currency. In the year 1956, the bank merged with the mercantile bank of Hyderabad. The MBH was found by Raja Pannalal Pitti in 1935. After the merging, the bank was renamed as state bank of Hyderabad. The entire stocks of the bank were linked with the RBI. In the year 1959, the subsidiary bank act was passed and the banks of the princely states became the part of SBI and SBH was the first subsidiary of SBI. M Bhagavantha Rao is the MD of the bank.
