State Bank of Mysore (SBM) was an Indian public sector bank headquartered in Bengaluru, Karnataka. It functioned as an associate bank of the State Bank of India (SBI) until 2017, when it was merged with its parent. Originally established as the Bank of Mysore under the patronage of the princely state of Mysore, it served for over a century as one of southern India's prominent commercial banks, with a particularly strong presence in Karnataka.
| Type | Public sector bank (former associate of SBI) |
|---|---|
| Industry | Banking, financial services |
| Founded | 1913 (as Bank of Mysore) |
| Founder/Patron | Established under the patronage of the Maharaja of Mysore, with Sir M. Visvesvaraya closely associated with its founding |
| Headquarters | Bengaluru, Karnataka, India |
| Parent | State Bank of India |
| Merged into SBI | 1 April 2017 |
| Status | Defunct (merged) |
The bank traces its origins to the Bank of Mysore, founded in 1913 during the reign of Maharaja Krishnaraja Wadiyar IV of the princely state of Mysore. Its formation was part of a broader programme of institution-building in the state, in which the Diwan of Mysore, Sir M. Visvesvaraya, played a leading role. The bank was intended to provide modern commercial banking facilities and support trade, industry and agriculture in the Mysore region.
State Bank of Mysore operated a network of branches concentrated in Karnataka, with additional presence in major cities across India. Its services included savings and current accounts, term deposits, retail and corporate loans, agricultural credit, NRI banking, foreign exchange, and government business such as tax collection and pension disbursement. The bank also provided ATM, internet banking and card services in line with the SBI group's technology platform.
As one of the older banks in southern India, State Bank of Mysore was historically significant for its role in extending modern banking to the erstwhile Mysore state and later to Karnataka. Its association with Sir M. Visvesvaraya links it to the wider tradition of public-purpose institutions established during the modernisation of princely Mysore. The 2017 merger with SBI marked the end of the associate-bank structure that had existed since 1959 and was a major step in the consolidation of Indian public sector banking.