State Bank of Bikaner & Jaipur

About Bank

The genesis of State Bank of Bikaner and Jaipur dates back to the year 1943-44, when the Bank of Jaipur Ltd. and the Bank of Bikaner Ltd. came into existence. In 1960, both banks were incorporated as subsidiaries of State Bank of India and named as State Bank of Bikaner and State Bank of Jaipur. On January 1, 1963, both banks were merged into one entity viz. State Bank of Bikaner and Jaipur. The constitution, capital, management and other matters pertaining to the Bank are governed by the provisions of SBI (Subsidiary Banks) Act, 1959. 75% of the shares of SBBJ are held by SBI and the remaining by institutions and general public. The Bank took over the business of the Govind Bank Pvt. Ltd, Mathura on 25th April, 1966. SBBJ went public in the year 1997-98 with an issue of 12.21 lakh shares of Rs.100 each at a premium of Rs.440/-. SBBJ is the only public sector bank with headquarter in Rajasthan. At the time of incorporation, the Bank had a business of Rs.45 crore, net profit of Rs.7.5 lakh and a network of 124 branches (96 in Rajasthan). By March 2011 the business of the Bank increased to Rs.95,596 crore, net profit stood at Rs.550.88 crore and the number of branches increased to 902 (744 in Rajasthan). SBBJ had sponsored three Regional Rural Banks viz. Marwar Gramin Bank (set up in 1976), Sriganganagar Kshetriya Gramin Bank (1984) and Bikaner Kshetriya Gramin bank (1985). These have since been merged into single RRB viz. MGB Gramin Bank in June 2006. The Bank shoulders Lead Bank responsibility in 9 districts of the State.