State Bank of India information

State Bank of India
	State Bank Bhavan, Nariman Point, Mumbai
Company type	Public
Traded as	NSE: SBIN; BSE: 500112; LSE: SBID; BSE SENSEX Constituent; NSE NIFTY 50 Constituent;
ISIN	INE062A01020
Industry	Banking, financial services
Predecessor	Imperial Bank of India; (1921 – 1955) Bank of Calcutta; (1806 – 1921) Bank of Bombay; (1840 – 1921) Bank of Madras; (1843 – 1921)
Founded	1 July 1955; 68 years ago; State Bank of India 27 January 1921; Imperial Bank of India 2 June 1806; Bank of Calcutta 15 April 1840; Bank of Bombay 1 July 1843; Bank of Madras;
Headquarters	State Bank Bhawan, M.C. Road, Nariman Point, Mumbai, Maharashtra, India
Number of locations	India:; 22,219 Branches ; 62,617 ATMs; International:; 229 Branches in 31 countries
Area served	Worldwide
Key people	Dinesh Kumar Khara (Chairman); Kameshwar Rao Kodavanti (CFO);
Products	Retail banking; Corporate banking; Investment banking; Mortgage loans; Private banking; Wealth management; Risk management; Asset management; Investment management; Mutual funds; Exchange-traded funds; Index funds; Credit cards; Insurance;
Revenue	₹5.75 lakh crore (US$72 billion) (2023)
Operating income	₹93,582.84 crore (US$12 billion) (2023)
Net income	₹55,648.20 crore (US$7.0 billion) (2023)
Total assets	₹63.17 lakh crore (US$790 billion) (2024)
Total equity	₹3.72 lakh crore (US$47 billion) (2023)
Members	50 crores+
Number of employees	240,198 (31 December 2022) 106,429 officers; 95,992 assistants; 32,138 subordinate staff; 5,639 contractual officials;
Parent	Ministry of Finance; (Government of India (57.5%)
Subsidiaries	SBI Life Insurance Ltd; SBI Mutual Fund (63%); SBI Cards and Payment Services Ltd; SBI General Insurance (70%); Jio Payments Bank (23%); Yes Bank (30%); Andhra Pradesh Grameena Vikas Bank (35%); Kaveri Grameena Bank (35%);
Capital ratio	Tier 1 11.03% (2022)
Rating	S&P BBB− / A-3/ Stable; Moody's Baa3/ P-3/ Stable; Fitch BBB− / F-3/ Stable;
Website	sbi.co.in; bank.sbi
	Footnotes / references;

State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra. SBI is the 45th largest bank in the world by total assets and ranked 221st in the Fortune Global 500 list of the world's biggest corporations of 2020, 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 2023, the company’s seat in Forbes Global 2000 was 77.^[17]

On 14 September 2022, State Bank of India became the third lender (after HDFC Bank and ICICI Bank) and seventh Indian company to cross the ₹5 lakh crore market capitalisation on the Indian stock exchanges for the first time.^[18] The largest public lender in the country reached a milestone on February 7, 2024, when its market capitalisation surpassed ₹6 lakh crore, making it the second public sector undertaking (PSU) to do so, after Life Insurance Corporation.^[19] The Reserve Bank of India (RBI) has identified the 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 in 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]

^ "govt-appoints-dinesh-kumar-khara-as-sbi-chairman-for-3-years". livemint. 6 October 2020. Retrieved 7 October 2020.
^ "SBI appoints Kameshwar Rao Kodavanti as CFO". The Economic Times. July 2023.
^ ^a ^b ^c ^d ^e ^f "Annual Report 2022-23 of State Bank of India" (PDF). Archived from the original on 18 July 2019. Retrieved 18 July 2022.
^ "SBI customer base".
^ Ghosh, Shayan (28 March 2023). "SBI to hire consultant to survey employees". Mint. Retrieved 16 November 2023.
^ "PILLAR 3 DISCLOSURES (CONSOLIDATED) AS ON 31.12.2022". bank.sbi.
^ ^a ^b ^c "Bank Ratings - Investor Relations".
^ "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.
^ "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.
^ "From Imperial Bank to State Bank" (PDF). Archived (PDF) from the original on 30 October 2013. Retrieved 28 June 2017.
^ "Fortune Global 50 list". Retrieved 16 January 2021.
^ "SBI joins Rs 7-trillion market cap club; stock surges 26% in three months". 14 September 2022.
^ "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.
^ "These Are the Biggest Employers in India". 15 December 2016.
^ "India's eight biggest employers".
^ "Top Companies in India: Top Companies in India by Employee Cost, Top BSE Companies by Employee Cost, Top BSE Companies".
^ "The Global 2000 2023". Forbes. Archived from the original on 29 January 2024. Retrieved 7 February 2024.
^ "SBI becomes third Indian lender to surpass Rs 7 trillion market cap". Moneycontrol. 14 September 2022.
^ "SBI MCap Tops ₹6 Lakh Cr".
^ "Reserve Bank of India - Publications".
^ "Reserve Bank of India - Press Releases".
^ Rajesh (2009). Banking Theory Law N Practice. Tata McGraw-Hill Education. p. 8. ISBN 978-0-07-009123-8. Retrieved 4 November 2014.
^ "From Imperial Bank to State Bank" (PDF). rbidocs.rbi.org.in. Retrieved 11 September 2023.
^ "The State Bank Of India (Subsidiary Banks) Act, 1959". Indian Kanoon. Retrieved 11 September 2023.
^ Livemint (16 August 2022). "Bengaluru: SBI launches its first dedicated branch for start-ups. Details here". mint. Retrieved 18 August 2022.

[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.

[Annual_Report_2022-23-3] ^ ^a ^b ^c ^d ^e ^f "Annual Report 2022-23 of State Bank of India" (PDF). Archived from the original on 18 July 2019. Retrieved 18 July 2022.

[4] "SBI customer base".

[5] Ghosh, Shayan (28 March 2023). "SBI to hire consultant to survey employees". Mint. Retrieved 16 November 2023.

[6] "PILLAR 3 DISCLOSURES (CONSOLIDATED) AS ON 31.12.2022". bank.sbi.

[ratings-7] "Bank Ratings - Investor Relations".

[Consolidated_Annual_Report_via_web-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.

[Annual_Report_via_Moneycontrol-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] "Reserve Bank of India - Publications".

[21] "Reserve Bank of India - Press Releases".

[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.

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