State Bank of Indore popularly known as Indore Bank in Malwa
Region, originally known as Bank of Indore Ltd. was incorporated
under a special charter of His Highness Maharaja Tukojirao
Holker-III, the then ruler of this region.
In terms of State Bank of India (Subsidiary Banks) Act, 1959 the
Bank of Indore Ltd. became a subsidiary of State Bank of India
w.e.f. 1st January 1960 and was renamed as State Bank of Indore
The Bank acquired business of The Bank of Dewas Ltd. in 1962 and
The Dewas Senior Bank Ltd. in 1965 and was up-graded to class
'A' category bank in 1971. Ever since the Bank has been making
steady progress and during the year 2004-2005 the business
turnover has crossed Rs.23000 crore
To continue to play our role as an important
Financial Institution for the development of the economy with
national perspective by exacting standards of professionalism,
efficiency and values, creating a highly challenging and
techno-savvy work environment for enhancing customer
satisfaction and maximizing 'stake-holders' value through
quality assets and sustained profitability.
State Bank of Indore has been able to make its mark
in all facets of banking operations, be it traditional,
developmental or innovative. In the medium term, the Bank's
corporate objectives are
To continue to be the premier Bank of Madhya Pradesh with a
national perspective, ensuring progressive corporate excellence
using state of the art technology.
To create and maintain assets of quality so as to emerge as a
healthier and stronger Bank as per parameters of international
standards, while maintaining the social orientation and national
To emerge as an important component and strong representative of
State Bank Group in its 'core area' of operation and carve out a
well defined position within the group.
To provide impeccable and progressively better customer service
with total involvement of staff.