New Delhi, April 1: Five associates and the Bharatiya Mahila Bank became part of the State Bank of India (SBI) today, catapulting the country's largest lender to among the top 50 banks in the world.

The State Bank of Bikaner and Jaipur, the State Bank of Hyderabad, the State Bank of Mysore, the State Bank of Patiala and the State Bank of Travancore, besides Bharatiya Mahila Bank, merged with the SBI with effect from April 1, the bank said in a statement.

With this merger, the bank will join the league of top 50 banks globally in terms of assets, the bank added.

The total customer base of the bank will reach 37 crore with a branch network of around 24,000 and nearly 59,000 ATMs across the country.

The merged entity will have a deposit base of more than Rs 26 lakh crore and advances level of Rs 18.50 lakh crore.

Welcoming all stakeholders of the merged entities, SBI chairperson Arundhati Bhattacharya said the bank would try to conclude the transition within a quarter.

"The combined entity will enhance the productivity, mitigate geographical risks, increase operational efficiency and drive synergies across multiple dimensions, while ensuring increased levels of customer delight," she said.

After the merger, the bank will rationalise its network by relocating some of the branches to maximise reach. This will help the bank optimise its operations and improve profitability, she said.

Integration of treasuries of the associate banks with the treasury of the SBI will bring in substantial cost saving and synergy in treasury operations, she added.