The State Bank of India (SBI) is the largest banking and financial servicescompany in India by revenue, assets and market capitalization.As of March 2011, it had assets of US$370 billion with over 13,000 outletsincluding 150 overseas branches and agents globally.The bank traces its ancestry to British India, through the Imperial Bank ofIndia, to the founding in 1806 of the Bank of Calcutta, making it the oldestcommercial bank in the Indian Subcontinent. Bank of Madras merged intothe other two presidency banks—Bank of Calcutta and Bank of Bombay—to form the Imperial Bank of India, which in turn became the State Bank ofIndia.The Government of India nationalized the Imperial Bank of India in 1955,with the Reserve Bank of India taking a 60% stake, and renamed it theState Bank of India. In 2008, the government took over the stake held bythe Reserve Bank of India.
The State Bank of India is the largest of the Big Four banks of India, alongwith ICICI Bank, Punjab National Bank and HDFC Bank—its maincompetitors.The State Bank of India was founded on July 1,1955.It’s revenue is US$ 32.44 billion, profit US$ 2.34 billion, total assetsamounting US$369.56 billion and total equity US$ 18.71 billion.It provides employment to 2,22,933 people all over the world.SBI is ranked #292 globally in Fortune Global 500 list in 2011.The State Bank Group, with over 16,000 branches, has the largestbanking branch network in India.It also has around 130 branches overseas.The State Bank of India is the 29th most reputed company in the worldaccording to Forbes.
The roots of the State Bank of India lie in the first decade of 19th century,when the Bank of Calcutta, later renamed the Bank of Bengal, wasestablished on June 2, 1806.The Presidency banks amalgamated on January 27, 1921, and the re-organized banking entity took as its name Imperial Bank of India.Pursuant to the provisions of the State Bank of India Act of 1955, theReserve Bank of India, which is Indias central bank, acquired a controllinginterest in the Imperial Bank of India. On April 30, 1955, the Imperial Bankof India became the State Bank of India.
State Bank of Bikaner & JaipurState Bank of HyderabadState Bank of IndoreState Bank of MysoreState Bank of PatialaState Bank of SaurashtraState Bank of TravancoreBank of Cochin
SBI Capital Markets Ltd.SBI Funds Management Pvt. Ltd.SBI Factors & Commercial Services Pvt. Ltd.SBI Cards & Payments Services Pvt. Ltd. (SBICPSL)SBI DFHI Ltd.SBI Life Insurance Company Ltd.SBI General Insurance
Pratip Chaudhuri (Chairman)Hemant G. Contractor (Managing Director)Diwakar Gupta (Managing Director)A Krishna Kumar (Managing Director)Dileep C Choksi (Director)S. Venkatachalam (Director)D. Sundaram (Director)Parthasarathy Iyengar (Director)Jyoti Bhushan Mohapatra (Workmen Employee Director )G. D. Nadaf (Officer Employee Director)Rashpal Malhotra (Director)D. K. Mittal (Director)Subir V. Gokarn (Director)Deepak Ishwarbhai Amin (Director)
State Bank of India has 172 foreign offices in 37 countriesacross the globe.SBI has about 25,000 ATMs (25,000th ATM was inauguratedby the then Chairman of State Bank Shri O.P. Bhatt on 31March 2011, the day of his retirement); and SBIgroup(including associate banks) has about 45,000 ATMs.SBI has 21,500 branches, including branches that belong toits associate banks.SBI includes 99345 offices in India.
SBI has provided employment to 222,933 people allover the world.SBI has turned into the third-largest employerin India among listed companies after Coal IndiaLimited(383,347) and Tata ConsultancyServices(226,751).
Best Online Banking Award, Best Customer Initiative Award & Best RiskManagement Award (Runner Up) by IBA Banking Technology Awards 2010The Bank of the year 2009, India (won the second year in a row) by TheBanker MagazineBest Bank – Large and Most Socially Responsible Bank by the BusinessBank Awards 2009Best Bank 2009 by Business IndiaThe Most Trusted Brand 2009 by The Economic TimesMost Preferred Bank & Most preferred Home loan provider by CNBCVisionaries of Financial Inclusion By FINOAccording to The Brand Trust Report, 11th most trusted brand in India.Technology Bank of the Year by IBA Banking Technology Awards
The formation of the State Bank of India aims at promoting plannedeconomic development of the country.By March 1995 the SBI and its associates over 13,800 small scale businessunits and other small operators. The amount of loans outstanding wasRs.9,200 crores.In March 1995,the loans outstanding to farmers rose to over Rs.7,450crores.SBI has also introduced Installment Credit schemes. It is designed toassist the financing equipment or machinery used by small and mediumsize manufacturing units.Out of it’s 21,500 branches, nearly two-thirds of these are located in ruraland semi-urban areas with a population of less than 25,000.