State Bank of India

".sbi" redirects here. For other uses, see SBI (disambiguation).

State Bank of India
Company typePublic
ISININE062A01020
IndustryBanking, financial services
Predecessor
Imperial Bank of India
(1921 – 1955)
Bank of Calcutta
(1806 – 1921)
Bank of Bombay
(1840 – 1921)
Bank of Madras
(1843 – 1921)
Founded1 July 1955; 69 years ago (1955-07-01)
State Bank of India
HeadquartersState Bank Bhawan, M.C. Road, Nariman Point, Mumbai, Maharashtra, India
Number of locations
India:
22,542 Branches
63,580 ATMs
International:
241 Branches in 29 countries
Area served
Worldwide
Key people
Products
RevenueIncrease ₹4.66 lakh crore (US$56 billion)[3] (2024)
Increase ₹86,697.18 crore (US$10 billion)[3] (2024)
Increase ₹61,076.62 crore (US$7.3 billion)[3] (2024)
Total assetsIncrease ₹61.79 lakh crore (US$740 billion)[3] (2024)
Total equityIncrease ₹4.29 lakh crore (US$51 billion)[3] (2024)
Members50 crores+[4]
Number of employees
2,32,296 (31 March 2024)[5]
ParentMinistry of Finance
(Government of India (57.54%))
Subsidiaries
Capital ratioTier 1 14.28%(2024)[6]
Rating
Websitesbi.co.in

bank.sbi

onlinesbi.sbi
Footnotes / references
[3][8][9][10]

State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra. It is the 48th largest bank in the world by total assets and ranked 178th in the Fortune Global 500 list of the world's biggest corporations of 2024, being the only Indian bank on the list.[11] It is a public sector bank and the largest bank in India[12] with a 23% market share by assets and a 25% share of the total loan and deposits market.[13] It is also the tenth largest employer in India with nearly 250,000 employees.[14][15][16] In 2024, the company’s seat in Forbes Global 2000 was 55.[17]

On 14 September 2022, State Bank of India became the third lender (after HDFC Bank and ICICI Bank) and the seventh Indian company to cross the ₹5 trillion market capitalization on the Indian stock exchanges for the first time.[18] The largest public lender in the country reached a milestone in April 2024, when its market capitalization surpassed ₹7 trillion, making it the second public sector undertaking (PSU) to do so, after Life Insurance Corporation of India.[19] In June 2024, SBI crossed all time high market capitalisation of ₹8 trillion (8 lakh crore INR) becoming the 7th Indian company to cross this milestone, and third Indian bank after HDFC and ICICI in terms of market capitalisation. As of August 2024, State Bank of India has a market cap of ₹7.276 Trillion. This makes it the world's 200th most valuable company by market cap. The Reserve Bank of India (RBI) has identified SBI, HDFC Bank, and ICICI Bank as Domestic Systemically Important Banks (D-SIBs), which are often referred to as banks that are "too big to fail".[20][21]

The bank descends from the Bank of Calcutta, founded in 1806 via the Imperial Bank of India, making it the oldest commercial bank in the Indian subcontinent. The Bank of Madras merged into the other two presidency banks in British India, the Bank of Calcutta and the Bank of Bombay, to form the Imperial Bank of India, which in turn became the State Bank of India on July 1, 1955.[22] Overall the bank has been formed from the merger and acquisition of more than twenty banks over the course of its 200-year history.[23][24] The Government of India took control of the Imperial Bank of India in 1955, with Reserve Bank of India (India's central bank) taking a 60% stake, renaming it State Bank of India.

On 16 August 2022, in an attempt to facilitate and support India's start-ups, SBI announced the launch of its first "state-of-the-art" dedicated branch for start-ups in Bengaluru.[25]

  1. ^ "govt-appoints-dinesh-kumar-khara-as-sbi-chairman-for-3-years". livemint. 6 October 2020. Retrieved 7 October 2020.
  2. ^ "SBI appoints Kameshwar Rao Kodavanti as CFO". The Economic Times. July 2023.
  3. ^ a b c d e f "Annual Report of State Bank of India". Retrieved 22 October 2024.
  4. ^ "SBI customer base".
  5. ^ Ghosh, Shayan (14 May 2024). "SBI Reduced it's Headcount by 25,000 in five years". Retrieved 15 May 2024.
  6. ^ "PILLAR 3 DISCLOSURES (CONSOLIDATED) AS ON 31.12.2022". bank.sbi.
  7. ^ a b c "Bank Ratings - Investor Relations".
  8. ^ "State Bank of India Consolidated Yearly Results, State Bank of India Financial Statement & Accounts". moneycontrol.com. Archived from the original on 2 July 2017. Retrieved 26 June 2017.
  9. ^ "State Bank of India Yearly Results, State Bank of India Financial Statement & Accounts". moneycontrol.com. Archived from the original on 20 July 2017. Retrieved 26 June 2017.
  10. ^ "From Imperial Bank to State Bank" (PDF). Archived (PDF) from the original on 30 October 2013. Retrieved 28 June 2017.
  11. ^ "Fortune Global 50 list". Retrieved 16 January 2021.
  12. ^ "SBI joins Rs 7-trillion market cap club; stock surges 26% in three months". 14 September 2022.
  13. ^ "Away from the public gaze, State Bank of India is preparing to unleash a revolution". Archived from the original on 22 May 2018. Retrieved 22 May 2018.
  14. ^ "These Are the Biggest Employers in India". 15 December 2016.
  15. ^ "India's eight biggest employers".
  16. ^ "Top Companies in India: Top Companies in India by Employee Cost, Top BSE Companies by Employee Cost, Top BSE Companies".
  17. ^ "The Global 2000 2023". Forbes. Archived from the original on 29 January 2024. Retrieved 7 February 2024.
  18. ^ "SBI becomes third Indian lender to surpass Rs 7 trillion market cap". Moneycontrol. 14 September 2022.
  19. ^ "SBI MCap Tops ₹6 Lakh Cr".
  20. ^ "Monetary and Credit Information Review". Reserve Bank of India. 31 January 2024. Retrieved 1 September 2024. Domestic Systemically Important Banks (D-SIBs) - The Reserve Bank on January 2, 2023 released the list of Domestic Systemically Important Banks (D-SIBs). State Bank of India, ICICI Bank, and HDFC Bank continue to be identified as D-SIBs, under the same bucketing structure as in the 2021 list of D-SIBs.
  21. ^ "RBI releases 2020 list of Domestic Systemically Important Banks (D-SIBs)". Reserve Bank of India. 19 January 2021. Retrieved 1 September 2024.
  22. ^ Rajesh (2009). Banking Theory Law N Practice. Tata McGraw-Hill Education. p. 8. ISBN 978-0-07-009123-8. Retrieved 4 November 2014.
  23. ^ "From Imperial Bank to State Bank" (PDF). rbidocs.rbi.org.in. Retrieved 11 September 2023.
  24. ^ "The State Bank Of India (Subsidiary Banks) Act, 1959". Indian Kanoon. Retrieved 11 September 2023.
  25. ^ Livemint (16 August 2022). "Bengaluru: SBI launches its first dedicated branch for start-ups. Details here". mint. Retrieved 18 August 2022.