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State bank of India, the largest Public sector bank in India has expanded its horizon with the first ever large scale consolidation in the Indian banking history. With the merger of 5 associate banks– State bank of Bikaner and Jaipur, State bank of Mysore, State bank of Travancore, State bank of Hyderabad and State bank of Patiala along with the Bhartiya Mahila Bank, It has become the 45th largest bank in the world. The combined entity has been one of the largest banks in the history of Indian banking system.
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Salient Features of the SBI Bank Post Merger
- Entered the league of global top 50 banks.
- Has Balance sheet size of 41 trillion
- Around 2,77,000 employees
- Customer base of 500 million
- 22,500 branches and 58,000 ATMs across the country
- Increased market share to 22% from 17%.
What this means for brand SBI ?
SBI has divulged its new brand design which identifies it as the new, techno-savvy, growing and progressive bank. With the new identity, the bank is ready to serve the financial requirements of all Indians.
While the SBI monogram has been its identity since long. The combination of the keyhole symbol along with the abbreviated SBI is still there with few changes in the colour and design. The design of keyhole is still the same with the change in its colour as it has become few shades lighter. The background was white previously while the new design has the inky blue background with SBI etched in white colour with a new font named Effra. It has been composed and designed by Design Stack, a Mumbai-based designing company. The overall visual language has been designed to maintain the consistency and recall across all the touch points.
The new brand design will mark the start of the new era with a new identity. While it also reflects the retaining of its core value with the zeal of new energy and approach which makes the brand more powerful and appealing.
Benefits to customers
Technology benefits to all the customers
SBI is riding high on all fronts. It is making the technological advances and providing the widest array of digital products and services to the people of the country. With the merger, the bank will be able to provide these technology bound products to all the old and new customers which include- State bank buddy, SBI Mingle, SBI Quick, State bank anywhere, State Bank Scribe, State Digi vouchers, SBI Video statement and more. Now it can spread its services to 3 crore additional customers after the merger.
Benefits of being the largest network to customers
With the merger, the number of branches has increased as well as the number of ATM have also increased across India. It has made the branches and ATMs easily available to the customers. It can provide seamless services to the people along with being easily accessible.
Seamless services with same warmth
SBI has been identical with trust and excellent services since ages. Now with the merger, the people can enjoy the advantage of accessing the bank across the globe with the services extended to 36 countries with 190 foreign offices. With the consolidation the quality of the services or the attitude to handle customer will increase as the professional standard across all the branches will boost. It will benefit the customer with the improved quality of already existing best services.