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 A Long Tradition of Trust | |
| Formerly | Travancore Bank Ltd. |
|---|---|
| Company type | Public |
| NSE: SBT BSE: 532191 | |
| Industry | Banking Capital Markets and allied industries |
| Founded | 12 September 1945; 80 years ago (1945-09-12) (as Travancore Bank Ltd.) |
| Founder | Chithira Thirunal Balarama Varma |
| Defunct | 31 March 2017 (2017-03-31) |
| Fate | Merged withState Bank of India |
| Successor | State Bank of India |
| Headquarters | Poojappura,Thiruvananthapuram,India |
Number of locations | 1,157 Branches, 12 Extension counters and 1,602 ATM Counters |
Area served | Kerala |
| Services | |
Number of employees | 14,069 (2015) |
| Parent | State Bank of India |
TheState Bank of Travancore (SBT) was a major Indian bank headquartered inThiruvananthapuram,Kerala, and was a major associate of theState Bank of India.
SBT was a subsidiary of theState Bank Group, but also had private share-holders. It was the premier bank ofKerala. As of 31 March 2015,[update] SBT had an overall network of 1,157 branches and 1,602 ATMs, covering 18 states and three union territories in India.
On 15 February 2017, the Union Cabinet approved a proposal to merge SBT and four other associate banks with SBI.[1] It finally merged with its parent bank on 31 March 2017.
SBT was established in 1945 as the Travancore Bank Ltd., at the initiative ofTravancoreDiwanC. P. Ramaswami Iyer. Following popular resentment against his dictatorial rule, the bank never credited his role. Instead, the Bank considered theMaharaja of TravancoreSri Chithira Thirunal Balarama Varma as the founder, though the king had little to do with the founding. Although theTravancore government put up only 25% of the capital, the bank undertook government treasury work and foreign exchange business, apart from its general banking business. Its head office was atThiruvananthapuram.[2] In 1960, it became a subsidiary ofState Bank of India under the SBI Subsidiary Banks Act, 1959, enacted by theParliament of India.,[3] and thus achieved the name 'State Bank of Travancore'.
On 15 February 2017, the Union Cabinet approved a proposal to merge SBT and four other associate banks withState Bank of India.[1] It was merged with its parent bank on 31 March 2017.
Between 1959 and 1965, SBT acquired numerous small, private banks in Kerala.[4]
