State Bank of Bikaner & Jaipur

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STATE BANK OF BIKANER AND JAIPUR
Public
Traded as
Industry Banking
Insurance
Capital Markets and allied industries
Founded Jaipur, 1963
Headquarters Head Office,
Tilak Marg,
Jaipur 302 005 India
Key people
Arundhati Bhattacharya(Chairman), Jyoti Ghosh(Managing Director)
Products Loans, Savings, Investment vehicles, etc.
Increase Rs. 730.24 Crore (March 2013)
Website www.sbbjbank.com

State Bank of Bikaner & Jaipur (SBBJ) (in Hindi स्टेट बैंक ऑफ बीकानेर एण्ड जयपुर) is an associated bank of State Bank of India. As of 2015, SBBJ had 1,360 branches, mostly located in the state of Rajasthan, India. Its branch network out of Rajasthan covers all the major business centers of India. In 1997, the Bank entered the capital market with an Initial Public Offering of 13,60,000 shares at a premium of Rs 440 per share.For the year 2015-16 the net profit of the company was 850.60 Crore[1][2][3][4]

History[edit]

State Bank of Bikaner & Jaipur came into existence on 1963 when two banks, namely, State Bank of Bikaner (established in 1944) and State Bank of Jaipur (established in 1943), were merged. Both these banks were subsidiaries of the State Bank of India under the State Bank of India (Subsidiary Bank) Act, 1959.

On 25 April 1966 SBBJ took over Govind Bank (Private) Ltd., Mathura,[5] established on 8 February 1963.

In 1984 SBBJ sponsored and established Ganganagar Kshetriya Gramin Bank as a Regional Rural Bank. Thereafter, in 1985 SBBJ opened the Bikaner Kshetriya Gramin Bank, the second Regional Rural Bank sponsored by it. The third Regional Rural Bank, sponsored by SBBJ was Marwar Gramin Bank, which covered the districts of Pali, Jalore and Sirohi. On 12 June 2006, SBBJ merged all three regional rural banks that it sponsored under the name MGB Gramin Bank, with headquarters in Jodhpur.

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