Bank of Saurashtra (SBS) is one of the Associate
Banks of State Bank of india. The origins of State Bank of Saurashtra
can be traced to Bhavnagar Darbar Bank, which was established in the
year 1902. Bhavnagar was one of the princely states of the Saurashtra
region of Gujarat. In 1948, when princely states were integrated to form
Saurashtra state, a need for state-owned bank was felt. Accordingly, the
Bhavnagar Darbar Bank was formed into a statutory corporation, called
State Bank Of Saurashtra, and the four Darbar Banks - Rajkot State Bank,
Porbandar State Bank, Palitana Darbar Bank and Vadia State Bank - were
merged with it with effect from 1st July, 1950 as its branches.
In 1960, the State Bank of Saurashtra joined the State Bank family as
one of its fully owned subsidiaries. This enabled State Bank of
Saurashtra to expand its operations by using the network of the State
Bank Group for furthering its business activities.
At the close of 1950, the Bank had only 9 branches and deposits of Rs.7
crores. By 31.03.2005, the total deposits amounted to Rs. 12613.04
crores and total advances reached the level of Rs. 6714.07 crores.
Presently, the Bank has a network of 423 branches spread over 15 states
and the Union Territory of Daman and Diu.
Head Office
Nilam Baug Chowk
Bhavnagar, Gujarat
URL:
www.sbsbank.com
