State Bank of India (SBI),with a 200 year history, is the largest commercial bank in India in terms of assets, deposits, profits, branches, customers and employees. The Government of India is the single largest shareholder of this Fortune 500 entity with more than 50% ownership.
The origins of State Bank of India date back to 1806 when the Bank of Calcutta (later called the Bank of Bengal) was established. In 1921, the Bank of Bengal and two other banks (Bank of Madras and Bank of Bombay) were amalgamated to form the Imperial Bank of India. In 1955, the Reserve Bank of India acquired the controlling interests of the Imperial Bank of India and SBI was created by an act of Parliament to succeed the Imperial Bank of India.
SBI has an extensive network with over 22000 plus branches in India and over 200 offices in 34 other countries across the world. As of 31st March 2019, the group had assets worth over USD 500 billion and capital & reserves in excess of USD 32 billion. The SBI has over 1/5th market share of the Indian banking sector.
SBI's non- banking subsidiaries/joint ventures are market leaders in their respective areas and provide wide ranging services, which include investment banking, life insurance, general insurance, mutual funds, credit cards, factoring services, security trading, etc making the SBI Group a truly large financial supermarket and India's financial icon. SBI has arrangements with over 1,600 various international / local banks to exchange financial messages through SWIFT in all business centres of the world to facilitate trade related banking business, reinforced by dedicated and highly skilled teams of professionals.