State Bank of Hyderabad was constituted as Hyderabad State Bank on 08.08.1941 under Hyderabad State Bank Act, 1941. The Bank started with the unique distinction of being the central bank of the erstwhile State of Hyderabad, covering present-day Telangana region of Andhra Pradesh, Hyderabad – Karnataka of Karnataka state and Marathwada of Maharashtra state, to manage its currency – Osmania Sikka and public debt apart from the functions of commercial banking. The first branch of the bank was opened at Gunfoundry, Hyderabad on 5th April, 1942.
In 1953, the Bank took over the assets and liabilities of the Hyderabad Mercantile Bank Ltd. In the same year, the Bank started conducting Government and Treasury business as agent of Reserve Bank of India. In 1956, the Bank was taken over by Reserve Bank of India as its first subsidiary and its name was changed from Hyderabad State Bank to State Bank of Hyderabad. The Bank became a subsidiary of State Bank of India on the 1st October 1959 and is now the largest Associate Bank of State Bank of India.
All the branches of the Bank are totally networked under Core Banking Solutions, offering a vide range of products to it’s customers. All the customers of the Bank have access to the latest technologies like Internet Banking, ATMs etc. The Bank has pan India presence and operates through more than 1800 Bank branches.