State Bank of Hyderabad (SBH) is an associate bank of State Bank of India (SBI), and is one of the scheduled banks in India. The Bank's Head Office is situated at Gunfoundry Area, in Hyderabad, India. SBH has over 1200 branches and about 12,800 employees. Assets are in excess of Rupees 767 billion.
The bank has performed well in the past decades, winning several awards for its banking practices.[1]
Shri Pratip Choudhary – Chairman
Sri. M Bhagavantha Rao - Managing Director
The bank originated as the central bank of the erstwhile Nizam state under the name, Hyderabad State Bank. It was established in 1942, during the reign of the last Nizam of Hyderabad, Mir Osman Ali Khan. The bank also managed the Osmania Sicca, the currency of Hyderabad state, which had the distinction of having its own currency during British rule.
In 1956, the bank absorbed, by merger, the Mercantile Bank of Hyderabad, which Raja Pannalal Pitti had founded in 1935.[2] (Other accounts give year of founding as 1946 and that of merger as 1952).
Hyderabad State Bank was renamed State Bank of Hyderabad in 1956, and its entire share capital was vested with the Reserve Bank of India. Later, after the Subsidiary Banks Act was passed in 1959, it and the other banks of the princely states became subsidiaries of SBI. SBH was the first subsidiary of State Bank of India.
State Bank of Hyderabad was constituted as Hyderabad State Bank on 8.8.1941 under Hyderabad State Bank Act, 1941. The Bank started with the unique distinction of being 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, to manage its currency – Osmania Sikka and public debt apart from the functions of commercial banking. The first branch of the Bank was opened at Gunfoundry, Hyderabad on 5th April, 1942.
In 1953, the Bank took over the assets and liabilities of the Hyderabad Mercantile Bank Ltd. In the same year, the Bank started conducting Government and Treasury business as agent of Reserve Bank of India. In 1956, the Bank was taken over by Reserve Bank of India as its first subsidiary and its name was changed from Hyderabad State Bank to State Bank of Hyderabad. The Bank became a subsidiary of the State Bank of India on the 1st October 1959 and is now the largest Associate Bank of State Bank of India.