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State Bank of Hyderabad Int

State Bank of Hyderabad Int

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Published by: gautham_m007 on Dec 27, 2010
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State Bank of Hyderabad
State Bank of Hyderabad
(SBH) is an associate bank of State Bank of India(SBI), andis one of the scheduled banks inIndia. The Bank's Head Office is situated at GunfoundryArea, inHyderabad, 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.Shri O. P. Bhatt – ChairmanSmt Renu Challu - Managing Director 
The bank originated as the central bank of the erstwhile Nizamstate under thename,
 Hyderabad State Bank 
. It was established in 1942, during the reign of thelast Nizam of Hyderabad, Mir Osman Ali Khan. The bank also managed the
, the currency of Hyderabad state, which had the distinction of having its owncurrency during British rule.In 1956, the bank absorbed, by merger, the
Mercantile Bank of Hyderabad
, which RajaPannalal Pitti had founded in 1935.
(Other accounts give year of founding as 1946 andthat of merger as 1952).Hyderabad State Bank was renamed State Bank of Hyderabad in 1956, and its entireshare capital was vested with the Reserve Bank of India. Later, after the SubsidiaryBanks Act was passed in 1959, it and the other banks of the princely states becamesubsidiaries of SBI. SBH was the first subsidiary of State Bank of India.
ICRA has assigned a ‘LAAA’ (pronounced as L-Triple A) rating to the captioned debt programme of the Bank. This is the highest credit quality rating assigned by ICRA. The rated instrument carries thelowest credit risk.The rating is not recommended to buy, sell or hold Securities and investors should take their owndecision. The rating may be subject to revision or withdrawal at any time by the assigning ratingagency and each rating should be evaluated independently of any other rating. The rating obtained issubject to revision at any point of time in the future. The rating agencies have a right to suspend,withdraw the rating at any time on the basis of new information, etc.LISTING

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