SBI mega-merger with 6 other banks = 500 m users, 740 m a/cs, largest database in the world

SBI

The mega merger of SBI with 5 associate banks and Bharatiya Mahila Bank was indubiously the talk of D-st and Indian market speculators. The SBI share price has increased manifold with the recent merger activity doing rounds.

The D-day of merger, April 1 was seen as a landmark day in the history of SBI. The State Bank of India on Monday opened as one bank with 500 million customers, 740 million accounts and 500 tera-byte of database, informed SBI Chairman Arundhati Bhattacharya.

“The SBI opened as ‘one bank’ today…just accomplished in the last 48 hours; I don’t think anywhere in the globe anybody has attempted a six-way merger of such a magnitude. We have created a CBS (core banking solution) database which is about 500 tera bytes, which is I guess the biggest Oracle database in the world,” Bhattacharya beamed.

Bhattacharya also informed that the merger backend work was completed in as less as 50 hours. “The system was handed over at 3 a.m. on April 1 and given back to us (by IT) at 5.30 a.m. today. This speaks a lot about the hardware and software of our country, she highlighted.

SBI Chief reiterated the robust technological environment of India while thanking IT-majors like Infosys, TCS and Wipro for expeditious systems. She said, the system can handle 15,000 transactions per second.We are quickly digitizing our processes and CRM (customer relationship management).”

SBI is now a subsumation of all-women Bharatiya Mahila Bank (BMB) and SBI’s five associate banks – State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore and State Bank of Travancore.

Bhattacharya said, “Merger of data will start from April 24 because audit has to take place. Once audits are completed, from April 24 onwards every weekend one bank will be taken and the data of that bank will be merged. So, within May 27, the entire granular level data merger will be completed. In case of BMB and treasury the granular data merger has already completed.”

On the last day of the previous financial year, March 31, the bank handled 135 million transactions, 84 % of which were through electronic channels. However, on March 31, last day of FY 2016-17, only 100 million handled the last day of the previous year. So a 20% upscale in banking transactions was seen YoY.

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