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State Bank of India (SBI)

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State Bank of India (SBI)

  • 22,000 branches
  • 62,617 ATMs
  • Operating profit of Rs. 138,485.38 crore (US$ 18.88 billion) in FY21
  • A Fortune 500 company

State Bank of India provides a range of products and services to individuals, commercial enterprises, large corporates, public bodies and institutional customers. It offers a range of segments like treasury, which includes the entire investment portfolio and trading in foreign exchange contracts and derivative contracts; corporate/wholesale banking, which comprises the lending activities of corporate accounts group, mid corporate accounts group and stressed assets management group; retail banking, which comprises branches in National Banking Group and primarily includes personal banking activities like lending activities to corporate customers having banking relations with branches in the National Banking Group; and other banking business, which includes operations of all non-banking subsidiaries/joint ventures other than SBI Life Insurance Co. Ltd. and SBI General Insurance Co. Ltd.

Company Website: sbi.co.in

State Bank of India - Soaring to New Heights

2021 In September 2021, SBI raised Rs. 4,000 crore (US$ 533.8 million) via additional Tier 1 bonds at a coupon rate of 7.72%, the first such issuance in the domestic market after the Securities and Exchange Board of India issued new rules.
2020 On December 17, 2020, State Bank of India (SBI) won the Data Security Council of India (DSCI) award for the ‘Best Security Practices in the Banking Sector”
State Bank of India (SBI) raised US$ 100 million in green bonds through private placement
2019 SBI entered into an agreement with National Investment and Infrastructure Fund (NIIF) to provide financing solutions to infrastructure sector
2018 Jio and SBI entered into a partnership to increase SBI’s digital customer base multi-fold.
2017 Acquired State Bank of Travancore, State Bank of Patiala, State Bank of Hyderabad, State Bank of Bikaner & Jaipur,State Bank of Mysore and Bhartiya Mahila Bank (BMB).
2011 State Bank of India recorded debit card base of over 70 million.
2009 State Bank of India, entered into an agreement with the Government of Gujarat to create a fund of Rs 5.00 billion (US$ 103.41 million) for investing in equity of infrastructure projects.
2004 State Bank of India, Bangalore Circle, has announced its tie-up with New India Assurance Company Ltd (NIAC), for distribution of National Association of Insurance Commissioners (NIAC) general insurance products in Karnataka.
2001 The Bank has incorporated a subsidiary SBI Life Insurance Company Ltd, for doing life insurance business.
1998 The State Bank of India on Jan 27 took step into the payment cards business with a joint venture agreement with US-based financial services giant, General Electric Capital Corporation (GE Capital).
1987 The bank had sponsored 30 Regional Rural Banks covering 66 backward and underbanked districts in the country.
1955 On July 1 State Bank of India was constituted under the State Bank of India Act 1955.

 

Banking
Bank accounts opened under the Government’s flagship financial inclusion drive Pradhan Mantri Jan Dhan Yojana (PMJDY) reached 40.05 crore and deposits in Jan Dhan bank accounts stood at more than Rs. 1.30 lakh crore (US$ 18.44 billion).