State Bank of India
| Personal information | |
|---|---|
| Full name | State Bank of India |
| Company type | public |
| Founded | 1 July 1955 |
State Bank of Indiais an Indian multinational public sector bank and financial services statutory body, headquartered in Mumbai. It is the largest bank in India[12] with a 23% market share by assets and a 25% share of the total loan and deposits market.
History
[edit]Early Origins and Formation: The roots of the State Bank of India go back over two centuries to the Bank of Calcutta, established on 2 June 1806 during British rule in India. It was soon renamed the Bank of Bengal and, along with the Bank of Bombay (1840) and Bank of Madras (1843), formed the three Presidency banks. These banks were consolidated on 27 January 1921 to create the Imperial Bank of India, which became one of the largest banking institutions in colonial India.
Nationalization and Expansion: After India gained independence, the Imperial Bank was transformed under the State Bank of India Act of 1955 when the Reserve Bank of India took a controlling interest, renaming it the State Bank of India (SBI) on 1 July 1955. Over subsequent decades, SBI expanded its reach by integrating several regional and princely-state banks as subsidiaries, particularly after the State Bank of India (Subsidiary Banks) Act, 1959, to promote rural banking and financial inclusion. Later, throughout the 2000s and 2010s, SBI merged many of its associate banks into the main entity, creating one of the largest banking networks in the world.
Modern Growth and Initiatives: In recent years, SBI has continued evolving by forming strategic partnerships (e.g., with BNP Paribas for SBI Life Insurance), launching infrastructure and investment funds, and participating in major financial inclusion programs like the Pradhan Mantri Jan Dhan Yojana. The bank also engaged in rescue acquisitions, such as a stake in Yes Bank in 2020, and has remained central to India’s banking ecosystem, combining its historic legacy with modern financial services and nationwide outreach.
Shareholding
[edit]The Government of India remains the majority shareholder of State Bank of India (SBI), holding around 55–57% of the company’s equity, which keeps it a public sector entity; the rest is widely held by institutional investors, including mutual funds, insurance companies and foreign institutional investors, as well as retail shareholders — with roughly 42–45% of shares held by the public market.
Business career
[edit]SBI is India’s largest and oldest public sector bank, offering a full range of financial services — including retail banking, corporate and institutional banking, digital banking, asset management, insurance and wealth services — through one of the world’s biggest branch networks and global presence, with subsidiaries like SBI Life Insurance, SBI General Insurance, SBI Card, and SBI Mutual Fund serving hundreds of millions of customers in India and abroad.
Ideology
[edit]SBI’s corporate ideology centers on being the “Bank of Choice for a Transforming India,” focusing on simple, responsive and innovative financial solutions while upholding core values such as service, transparency, ethics, politeness and sustainability, aiming to support economic growth, financial inclusion, and customer-centric banking.
Social Links
[edit]References
- ^^ Jump up to: a b www.britannica.com "About Us - About Us". sbi.bank.in. Retrieved 2026-01-14.
- ^ Jump up to: a b "livemint" "govt-appoints-dinesh-kumar-khara-as-sbi-chairman-for-3-years" . Retrieved 2026-01-10.
- ^ Jump up to: a b c "SBI appoints Kameshwar Rao Kodavanti as CFO". The Economic Times. Retrieved 2025-12-17.
- ^ India Today "Employee strength of Public Sector Banks". The Economic Times . Retrieved 2025-12-17.
- ^ Jump up to: a b "State Bank of India Consolidated Yearly Results, State Bank of India Financial Statement & Accounts. "NDTV.com." . 2025-12-09. ISSN 0971-8257. Retrieved 2025-12-17.
- ^ Jump up to: a b "MSN". www.msn.com. Retrieved 2025-12-17.