State Bank of Travancore

State Bank of Travancore (SBT), is a subsidiary of the State Bank Group, but also has private share-holders. It is the premier bank of Kerala, where it handles the majority of its business. Overall, SBT as of March 31, 2015 has a network of 1,157 branches and 1,602 ATMs, covering 18 states and three union territories.

As of March 31, 2015, SBT has a total business of ₹1.61 lakh crore (US$25.23 billion), comprising total deposits of ₹91,077 crore (US$14.29 billion) and gross advances of ₹69,907 crore (US$10.96 billion).

The bank has reported a net profit of nearly ₹192 crore(US$30.12 million) in the fourth quarter of the fiscal year 2014-15, compared with ₹48.6 crore(US$7.62 million) a year ago, registering a growth of 295%. For the full fiscal year 2014-15, profit came in at ₹336 crore, against ₹304 crore a year ago.^[1]

History

SBT was established in 1945 as the Travancore Bank Ltd, at the initiative of Travancore Divan C. P. Ramaswami Iyer. Following popular resentment against his dictatorial rule, the bank no longer credits his role. Instead, the Bank now considers the Maharaja of Travancore as the founder, though the king had little to do with the founding. Although the Travancore 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 registered office was at Madras. In 1960, it became a subsidiary of State Bank of India under the SBI Subsidiary Banks Act, 1959, enacted by the Parliament of India.

Between 1959 and 1965, SBT acquired numerous small, private banks in Kerala.^[2]

• 1959: SBT acquired the assets and liabilities of Indo-Mercantile Bank, which Sri Popatlal Goverdhan Lalan had helped found in Cochin in 1937.
• 1961: SBT acquired Travancore Forward Bank (est. 1929), Kottayam Orient Bank (est. 1926), and Bank of New India (est. 1944) after the Reserve Bank of India put the banks under moratorium.
• 1963: SBT acquired Vasudeva Vilasam Bank (est. 1930).
• 1964: SBT acquired Cochin Nayar Bank (est. 1929) and Latin Christian Bank (est. 1928 in Ernakulam), after the Reserve Bank of India put the banks under moratorium. It also acquired Champakulam Catholic Bank, which had been established in 1929 in Alleppey.
• 1965: SBT acquired Bank of Alwaye (est. 1942), and Chaldean Syrian Bank, which several leading families of Syrian Christian origin had founded in 1918.^[3]

Board of Directors

Current Board of Directors ^[4] are :

• Ms. Arundhati Bhattacharya - Chairman (ex-officio)
• Mr. C.R.Sasikumar- Managing Director
• Dr. J. Sadakkadulla - Director
• Mr. V.G. Kannan - Director
• Mr. Neeraj Vyas - Director
• Mr. Vijay Kumar Monga - Director
• Mr. Ravi Nandan Sahay - Director
• Mr. V. Kaliappan - Director
• Mr. P. V. Prasad - Director
• Mr. M. C. Jacob - Director
• Mr. Sajen Peter - Director
• Mr. Anshuman Sharma - Director

See also

• Indian banking
• List of banks in India

References

^[5]

http://statebankoftravancore.com/new/PressRelease2012-13.pdf

External links

Wikimedia Commons has media related to State Bank of Travancore.

• http://www.statebankoftravancore.com/portal/home

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