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State Bank of India
State Bank of India
4.3/5

About State Bank of India

"State Bank of India (SBI) is an Indian multinational, public sector banking and financial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra. As of 2014-15, it had assets of Rs 20.480 trillion (US$300 billion) and more than 14,000 branches, including 191 foreign offices spread across 36 countries, making it the largest banking and financial services company in India by assets.The company is ranked 232nd on the Fortune Global 500 list of the world's biggest corporations as of 2016.[7] The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding, in 1806, of the Bank of Calcutta, making it the oldest commercial bank in the Indian Subcontinent. Bank of Madras merged into the other two ""presidency banks"" in British India, Bank of Calcutta and Bank of Bombay, to form the Imperial Bank of India, which in turn became the State Bank of India in 1955.[8] Government of India owned the Imperial Bank of India in 1955, with Reserve Bank of India (India's Central Bank) taking a 60% stake, and renamed it the State Bank of India. In 2008, the government took over the stake held by the Reserve Bank of India. State Bank of India is a banking behemoth and has 20% market share in deposits and loans among Indian commercial banks"

SBI now has one associate bank, down from the eight that it originally acquired in 1959. All use the State Bank of India logo, which is a blue circle, and all use the ""State Bank of"" name, followed by the regional headquarters' name:

  • State Bank of Patiala (founded 1917)
  • State Bank of Mysore (founded 1913)
  • State Bank of Bikaner & Jaipur (founded 1963)
  • State Bank of Hyderabad (founded 1941)
  • State Bank of Travancore (founded 1945)
  • Bharatiya Mahila Bank(founded 2013)

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