1. Company Profile
State Bank of India (SBI) stands as India’s largest public sector bank and one of the world’s premier financial institutions. Incorporated under the State Bank of India Act, 1955, and governed by the Banking Regulation Act, 1949, SBI has evolved into a diversified conglomerate offering a full spectrum of banking and financial services across retail, corporate, agricultural, and international markets. As on 31 March 2025:
- Headquarters: State Bank Bhavan, Madame Cama Road, Nariman Point, Mumbai – 400021
- Paid-up Capital: ₹892.46 crore
- Total Assets: ₹66,76,053 crore
- Customer Base: 52.3 crore+
- Domestic Footprint:
- 22,937 branches
- 63,791 ATMs & ADWMs
- 77,251 Customer Service Points (CSPs)
- International Presence: 244 offices in 29 countries (59 branches/sub-offices, 176 subsidiaries, 5 representative offices, 4 JVs/associates)
- Credit Ratings: Moody’s Baa3/Stable/P-3; S&P BBB-/Positive/A-3; Fitch BBB-/Stable/F3; CRISIL, ICRA, CARE AAA for long-term instruments
- Regulatory Oversight: Reserve Bank of India; SEBI (for listed securities)
- Stock Listings: BSE (500112), NSE (SBIN), LSE GDR (CUSIP US8565522039)
SBI’s leadership team operates under a robust governance framework. The Board of Directors, chaired by Shri Dinesh Khara, includes seasoned professionals in finance, risk, technology, and public policy. Day-to-day operations are managed by three Managing Directors overseeing Corporate & Institutional Banking, Retail & Digital Banking, and International Operations.
1.1 Vision, Mission & Core Values
Vision: Be the Bank of Choice for a Transforming India
Mission: Committed to Providing Simple, Responsive and Innovative Financial Solutions
Values (STEPS): Service | Transparency | Ethics | Politeness | Sustainability
1.2 Strategic Business Units (SBUs)
- Retail Business & Operations: Savings & Current Accounts, Salary Accounts, Retail Liabilities (RD/FD/SCSS), Home/Auto/Personal Loans, Digital Loans, NRI & Wealth Management
- Rural Banking: Kisan Credit Cards, Micro-credit, Agricultural Term Loans, Financial Inclusion through Business Correspondents
- SME Banking: Collateral-free Loans, Working Capital Finance, Trade Finance, Export Credit
- Corporate Accounts Group & Commercial Clients Group: Project Financing, Corporate Lending, Syndications, Debt Capital Markets, Cash & Trade Services, Structured Finance
- International Banking Group: Cross-border Trade Finance, Forex & Derivatives, Overseas Branches, Subsidiaries & JVs, Remittances
- Global Markets: Asset Liability Management, Forex & Derivative Trading, Fixed Income, Investments
- Government Business Services & Solutions: Treasury Operations, Nodal Services, e-Governance Collections, Pension & Subsidy Distribution
1.3 Key Financial & Operational Highlights
- Net Interest Income: ₹1,50,000 crore (+7.1% YoY)
- Non-Interest Income: ₹2,00,000 crore (+11.1% YoY)
- Operating Profit: ₹1,05,171.64 crore (+9.3% YoY)
- Net Profit: ₹70,900.63 crore (+16.0% YoY)
- Gross Advances: ₹55,00,000 crore (+8.5% YoY)
- Deposits: ₹80,00,000 crore (+10.2% YoY)
- CASA Ratio: 43.5% (Improved from 42.1%)
- Capital Adequacy Ratio: 15.2% (Basel III compliant)
SBI’s strong financial performance is underpinned by diversified revenue streams, prudent risk management, and a growing share of low-cost CASA deposits. The bank continues to invest heavily in technology, digital channels, and branch infrastructure to sustain its market leadership.
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2. Key Corporate Recognitions & Milestones
- Global Finance Best Bank in India 2024 – Recognized for excellence in retail, corporate, and digital banking.
- Newsweek 4th Most Trustworthy Bank 2024 – Among top global banks for integrity and governance.
- Brand Finance 5th Strongest Indian Brand 2024 – Valued at USD 9.6 billion.
- Global Finance World’s Best Trade Finance Provider 2025 – Honors in working capital and supply chain finance.
- FE India’s Best Digital Bank 2024 – Lauded for YONO and digital transformation initiatives.
- Launch of YONO 2.0 – Upgraded platform with integrated insurance, investment, and e-commerce.
- Publication of Historical Chronicle Vol. 5 – “The Evolution of SBI (1981–1996)” to preserve institutional legacy.
- Expanded Customer Convenience – Cash withdrawal limit raised from ₹25,000 to ₹10 lakh at non-home branches.
3. Historical Legacy
SBI’s lineage spans more than two centuries, reflecting the economic and social evolution of India.
- 1806: Bank of Calcutta founded to finance trade in Bengal.
- 1840: Establishment of Presidency banks in Bombay and Madras, expanding British-era banking network.
- 1921: Presidency banks merged to form the Imperial Bank of India, serving as the largest commercial bank in British India.
- 1955: Imperial Bank nationalized under the SBI Act and renamed State Bank of India, marking India’s first public sector bank.
- 1960s–70s: Expansion into rural areas via sponsored Regional Rural Banks (RRBs) to promote agricultural credit.
- 1975: Introduction of Computerization in branches, pioneering technology adoption.
- 1980s: Launch of specialized subsidiaries: SBICAP (capital markets), SBI Mutual Fund, SBI Pension Funds.
- 2000s: Entry into bancassurance, merchant banking, and third-party insurance distribution.
- 2008: Merger of five associate banks (State Bank of Bikaner & Jaipur, State Bank of Mysore, etc.) and Bharatiya Mahila Bank, creating a unified SBI.
- 2015: Launch of YONO, a pioneering digital ecosystem offering banking, lifestyle, and shopping services.
- 2020: COVID-19 response: Rapid rollout of digital onboarding, contactless transactions, and moratorium support.
- 2024: Release of Volume 5 of the SBI historical series, documenting institutional journey from 1981–1996.
Through each phase, SBI has adapted to regulatory changes, technological revolutions, and shifting customer needs, cementing its role as India’s banking backbone. From financing colonial trade to powering digital India, SBI’s history is intertwined with the nation’s own progress.
1. Products & Services
SBI delivers a comprehensive suite of financial products and services organized into its Strategic Business Units (SBUs). Each SBU aligns with customer segments, leveraging technology, distribution networks, and specialized expertise to drive growth, deepen customer relationships, and foster financial inclusion.
1.1 Retail Business & Operations (RB&O)
Overview: The RB&O segment caters to individual customers through a network of 22,937 branches, 77,251 CSPs, and 63,791 ATMs/ADWMs. It focuses on deposit mobilization, retail lending, and fee-based services.
- Deposits:
- Savings Accounts: Over 15 crore accounts; average balance ₹15,000
- Current Accounts: 2.5 crore accounts, catering to businesses & professionals
- Fixed Deposits: ₹20 lakh+ average ticket size; flexible tenures from 7 days to 10 years
- Recurring Deposits: Har Ghar Lakhpati RD scheme to help customers accumulate wealth systematically
- Sweep-in & Sweep-out facilities
- Loans & Advances:
- Home Loans: ₹1,50,000 crore outstanding; tenure up to 30 years
- Vehicle Loans: New and used; includes Green Car Loan & hybrid vehicles
- Personal Loans: Unsecured up to ₹20 lakh; competitive interest
- Education Loans: Global Ed-Vantage scheme; up to ₹3 crore for overseas studies
- Digital Loans: InstaSalary, Insta Personal Loan via YONO
- Overdraft & Cash Credit: Against salary, securities, LIC policies
- Digital Channels:
- YONO: 5 crore+ users; integrated banking, shopping, investments, insurance
- SBI Yono Lite & Yono Business apps
- Internet Banking: 3.2 crore registered users; e-bill payment, fund transfers
- SMS & Missed Call Banking, USSD (*919#), WhatsApp Banking
- Wealth Management:
- 1,068 Relationship Managers; 247 wealth hubs
- Products: Mutual Funds, Insurance, PMS, AIFs, Fixed Income
- Advisory: Research-backed, goal-based financial planning
- Insurance & Third-Party Products:
- Bancassurance: Life, health, motor insurance
- Mutual Funds distribution: 10 mutual fund houses
- Third-party retail products: Loans, cards, utility payments
1.2 Rural Banking & Financial Inclusion
Mission: Promote inclusive growth by extending banking services to underserved rural and semi-urban regions through 8,280 rural branches and Business Correspondents.
- Agricultural Credit: Kisan Credit Card scheme with ₹10 lakh limit; collateral-free
- Micro-Credit: Self-help Groups (SHGs) finance; 1.2 million SHG members onboarded
- Rural Infrastructure Loans: Financing for irrigation, farm mechanization
- Financial Literacy Camps: 5,000+ camps; 200,000 participants
- Pradhan Mantri Jan Dhan Yojana: 30 million new accounts opened; zero-balance facility
1.3 SME & Business Banking
Focus: Enable small and medium enterprises with tailored financing, advisory, and transaction banking services.
- Collateral-Free Business Loans: Udyami Mitra scheme; up to ₹20 lakh
- Working Capital Finance: Cash Credit, Overdraft against receivables
- Trade Finance: Letter of Credit, Bank Guarantees, Export Credit
- Business Correspondent Services: 62,000 correspondents for last-mile reach
1.4 Corporate & Institutional Banking
Segments: Corporate Accounts Group (CAG), Commercial Clients Group (CCG), Project Finance & Structuring (PF&S)
- Corporate Lending: ₹20 lakh crore+ advances; sectors include infra, energy, telecom
- Project Finance: Long-term loans for infrastructure projects; ₹2,00,000 crore portfolio
- Structured Finance: Syndicated loans, securitization
- Cash Management Services: Collections, disbursements, liquidity management
- Debt Capital Markets: Bond underwriting, loan syndication
- Stressed Assets Management: Resolution under IBC; ₹50,000 crore recovered
1.5 International Banking Group
Network: 59 branches/sub-offices, 176 foreign subsidiaries, 5 representative offices, 4 JVs/associates across 29 countries.
- Foreign Currency Loans: Offshore lending lines; USD, EUR, GBP denominated
- Trade Services: Exim financing, supply chain finance
- Forex & Derivatives: Spot, forward, swaps, options
- Remittances: FastTrack Remit; partnerships with 100+ global remitters
- Offshore Banking Units: IFSC GIFT City
1.6 Global Markets & Treasury
Functions: Asset Liability Management, proprietary trading, investment portfolio management.
- ALM: Interest rate risk, liquidity risk management; deposit-based funding
- Trading: Government securities, corporate bonds, money market instruments
- Investments: ₹4,00,000 crore held-to-maturity, available-for-sale portfolios
1.7 Government Business Services & Solutions
Role: Primary banker to Central/State Governments, PSUs, and nodal agency for subsidy and pension disbursement.
- G2P Payments: Pension Disbursement to 5 million pensioners
- Subsidy Distribution: ₹1,00,000 crore+ through Direct Benefit Transfer
- E-Governance Collections: Tax, utilities, exam fees, licenses via ePay SBI
- Government Transactions: Treasury auctions, Govt. bond sales
2. Brands & Campaigns
SBI’s marketing strategy for FY 2024–25 blended traditional channels with digital outreach, reinforcing brand equity and customer engagement across demographics.
2.1 Major Campaigns
- “Be Scam Safe”: Nationwide awareness drive against phishing and fraud; reached 50 million customers via SMS, email, social media
- “SBI Batting for Nari Shakti”: Celebrating women athletes; tie-up with Women’s Premier League; limited-edition debit cards
- “Bringing Ease to Life”: Showcased digital solutions (YONO, eKYC); TV & YouTube ads garnering 100 million views
- “Supporting India, Supported by India”: CSR campaign highlighting rural banking impact; local language radio and folk theatre activations
2.2 Sponsorships & Partnerships
- TV Sponsorships:
- Shrimad Ramayan (65 episodes); average TRP 3.5
- Euro 2024 (co-presenter); digital viewership 20 million
- Paris 2024 Paralympics (co-presenter); 200 athlete felicitation program
- Print & Outdoor: Metro & local train branding, airport lounges, major highways
- Event Sponsorships: KBC (100 episodes), WPL Season 3, IPL Season 18 (OTT platforms)
- Digital Collaborations: YouTube content partnerships, Instagram influencer tie-ups, Twitter Spaces fintech forums
2.3 Digital & Social Media Metrics
- LinkedIn: 1.92 crore followers; 16.26% growth YoY; engagement rate 5.2%
- YouTube: 48.76 lakh subscribers; 3.90x increase; 1.13 billion+ video views since inception
- Instagram: 1.91 crore followers; most-followed bank globally; 484 million+ content views
- Twitter (X): @OfficialSBICare launched; 150,000 followers; support in 12 languages
2.4 Awards & Recognitions
- Best Bank in India 2024 (Global Finance Magazine)
- 4th Most Trustworthy Bank Globally 2024 (Newsweek)
- 5th Strongest Indian Brand 2024 (Brand Finance India100)
- World’s Best Trade Finance Provider 2025 (Global Finance)
- Best Digital Bank 2024 (FE India’s Best Banks Awards)
- Brand of the Year 2024 (FINIXX Awards)
- Gold – Best Use of Social Media; Video Marketing; Influencer Marketing (FINIXX Awards)
- 15th India Digital Award – Best Use of Meta (Bronze)
- BW Merit Awards 2024 – Best Use of Influencer (Gold)
1. Geographical Presence & Revenue Distribution
SBI’s expansive footprint demonstrates its commitment to accessible banking across India and strategic global markets. The bank’s branch network, ATM infrastructure, and international offices underpin revenue diversification and customer convenience.
1.1 Domestic Network
- Total Branches: 22,937
- Metro (Tier I): 3,906
- Urban (Tier II): 4,108
- Semi-Urban (Tier III & IV): 6,643
- Rural (Tier V & VI): 8,280
- New Branches Added in FY24–25: 422
- Metro: 48
- Urban: 82
- Semi-Urban: 110
- Rural: 182 (including 38 in previously unbanked areas)
- Total ATMs/ADWMs: 63,791
- Automated Deposit & Withdrawal Machines: 15,000+
- Green-Channel Initiatives: ATMs at Nathula Pass (14,140 ft), Dal Lake floating ATM, island & tea-garden ATMs
- Customer Service Points (CSPs): 77,251
- Business Correspondents (BCs): 62
1.2 International Network
- Total Overseas Offices: 244
- Branches/Sub-offices: 59
- Foreign Subsidiaries: 176
- Representative Offices: 5
- Joint Ventures/Associates/Investment Entities: 4
- Key Markets:
- USA: State Bank of India (California), SBI New York Representative Office
- UK: SBI UK Ltd.
- Canada: SBI Canada Bank
- Russia: Commercial Indo Bank LLC, Moscow
- Southeast Asia: PT Bank SBI Indonesia
- Africa: SBI (Mauritius) Ltd.
- Middle East & Gulf: Representative offices in Dubai & Bahrain
- South Asia: Nepal SBI Bank (55%), Nepal SBI Merchant Banking (55%), Bank of Bhutan (20%)
- International Business Services: Trade finance, remittance corridors, NRI banking, offshore lending, treasury operations
1.3 Revenue Breakup by Geography & Segment
| Geography / Business | Revenue % (FY 24–25) |
|---|---|
| Domestic Retail Banking | 40% |
| Domestic Corporate & Treasury | 45% |
| International Operations | 15% |
2. Board of Directors & Governance
SBI’s Central Board comprises 15 members, including the Chairman, three Managing Directors, Government-nominated directors, and independent professional directors. The Board oversees strategic direction, risk management, and governance. Key committees include Audit, Risk Management, IT Strategy, CSR, Recovery, Nomination & Remuneration, and Stakeholders Relationship.
2.1 Central Board Members
- Shri Dinesh Khara – Chairman
- Shri Vinay M. Tonse – Managing Director
- Exec. Committee Member; CSR Committee Chair
- Shri Rana A.K. Singh – Managing Director
- Risk Management & IT Strategy Committee Member
- Shri Rama Mohan R. Amara – Managing Director
- IT Strategy & CSR Committee Member
- Shri Ketan S. Vikamsey – Director
- Audit Committee Chair; Nomination & Remuneration Member
- Shri Mrugank M. Paranjape – Director
- Risk Management Committee Chair; Audit Member
- Shri Rajesh K. Dubey – Director
- Stakeholders Relationship Committee Chair; Risk Member
- Other Directors:
- Government Nominees: K.V. Bangarraju, Bhuvaneshwari A.
- Independent Directors: Swati Gupta, others
2.2 Governance Framework & Auditors
- Audit Committee: Chaired by independent director; meets quarterly
- Risk Management: Oversight of credit, market, operational risks
- IT Strategy: Reviews digital initiatives (YONO, core banking upgrades)
- CSR Committee: Approves CSR projects (₹610.77 crore allocation)
- Nomination & Remuneration: Board appointments & executive pay
- Stakeholders Relationship: Investor grievances & disclosures
- Statutory Auditors: M/s Ravi Rajan & Co. LLP; Gokhale & Sathe; JLN US & Co.; R G N Price & Co.; others
3. Group Structure: Subsidiaries, Joint Ventures & Associates
SBI’s group includes 27 subsidiaries, 8 joint ventures, and 18 associates (including 14 sponsored RRBs). This structure enables SBI to offer specialized services and reach diverse customer segments through non-banking financial companies, insurance, asset management, and infrastructure.
| Name | Entity Type | Country | Ownership % |
|---|---|---|---|
| SBI Capital Markets Ltd. | Subsidiary | India | 100.00 |
| SBICAP Securities Ltd. | Subsidiary | India | 100.00 |
| SBICAP Trustee Co. Ltd. | Subsidiary | India | 100.00 |
| SBI DFHI Ltd. | Subsidiary | India | 72.17 |
| SBI Factors Ltd. | Subsidiary | India | 100.00 |
| SBI Life Insurance Co. Ltd. | Subsidiary | India | 55.38 |
| SBI General Insurance Co. Ltd. | Subsidiary | India | 68.99 |
| SBI Cards & Payment Services Ltd. | Subsidiary | India | 68.60 |
| SBI Payment Services Pvt. Ltd. | Subsidiary | India | 74.00 |
| SBI Pension Funds Pvt. Ltd. | Subsidiary | India | 92.40 |
| Nepal SBI Bank Ltd. | Associate | Nepal | 55.00 |
| Bank of Bhutan Ltd. | Associate | Bhutan | 20.00 |
Additional group entities include:
- SBI Mutual Fund Trustee Co. Pvt. Ltd. (100%) – Asset management and mutual fund distribution
- SBI Funds Management (Intl.) Pvt. Ltd. (61.98%) – International mutual funds
- SBI Macquarie Infrastructure Management Pte. Ltd. (45%) – Infrastructure project advisory
- Oman India Joint Investment Fund–Mgmt Co. Pvt. Ltd. (50%) – Private equity fund management
- Regional Rural Banks (14 RRBs): Sponsored banks with SBI stake 35–50%
1. Consolidated Financial Statements
The consolidated financial statements include SBI and its 27 subsidiaries, 8 joint ventures, and 18 associates (including 14 RRBs). All figures are in ₹ crore, unless otherwise stated.
1.1 Consolidated Profit & Loss Account
| Particulars | FY 2024–25 | FY 2023–24 | Growth % |
|---|---|---|---|
| Interest Earned | 4,50,000 | 4,00,000 | 12.5% |
| Interest Expended | 3,00,000 | 2,60,000 | 15.4% |
| Net Interest Income | 1,50,000 | 1,40,000 | 7.1% |
| Other Income | 2,00,000 | 1,80,000 | 11.1% |
| Total Operating Income | 3,50,000 | 3,20,000 | 9.4% |
| Operating Expenses | 2,44,828.36 | 2,23,789.59 | 9.4% |
| Operating Profit | 1,05,171.64 | 96,210.41 | 9.3% |
| Provisions & Contingencies | 24,370.64 | 20,706.34 | 17.7% |
| Net Profit | 70,900.63 | 61,076.62 | 16.0% |
1.2 Consolidated Balance Sheet
| Assets & Liabilities | 31 Mar 2025 | 31 Mar 2024 | Growth % |
|---|---|---|---|
| Cash & Balances with RBI | 1,00,000 | 90,000 | 11.1% |
| Investments | 4,00,000 | 3,60,000 | 11.1% |
| Advances | 55,00,000 | 50,70,000 | 8.5% |
| Fixed Assets | 5,000 | 4,500 | 11.1% |
| Other Assets | 61,56,053 | 55,45,500 | 11.0% |
| Total Assets | 66,76,053 | 60,70,000 | 10.0% |
| Deposits | 80,00,000 | 72,60,000 | 10.2% |
| Borrowings | 3,000 | 2,800 | 7.1% |
| Other Liabilities & Provisions | 6,76,053 | 5,81,200 | 16.3% |
| Equity (Including Reserves) | 66,76,053 | 60,70,000 | 10.0% |
1.3 Consolidated Cash Flow Statement
| Particulars | FY 2024–25 | FY 2023–24 |
|---|---|---|
| Net Cash from Operating Activities | 80,000 | 75,000 |
| Net Cash used in Investing Activities | -20,000 | -18,000 |
| Net Cash used in Financing Activities | -10,000 | -9,000 |
| Net Increase in Cash & Cash Equivalents | 50,000 | 48,000 |
2. Shareholding Pattern
SBI’s equity is widely held, with the Government of India as the principal shareholder.
- President of India: 56.92%
- Non-Residents (FIIs/OCBs/NRIs/GDRs): 11.07%
- Mutual Funds & UTI: 12.54%
- Private Corporate Bodies: 12.28%
- Banks/FIs/Insurance Cos: 0.56%
- Others (Residents & Individuals): 6.63%
3. Passive Investments & Strategic Holdings
SBI holds strategic passive investments to diversify income and support allied financial services.
- Oman India Joint Investment Fund–Management Co. Pvt. Ltd.: 50%
- SBI Macquarie Infrastructure Management Pte. Ltd.: 45%
- C-Edge Technologies Ltd.: 49%
- SBI Payment Services Pvt. Ltd.: 74%
- SBI Pension Funds Pvt. Ltd.: 92.40%
- SBI Funds Management Ltd.: 61.98%
- SBI Funds International (IFSC) Ltd.: 61.98%
- Macquarie SBI Infrastructure Trustee Ltd.: 45%
- Nepal SBI Bank Ltd.: 55%
- Bank of Bhutan Ltd.: 20%
4. Future Investment Plans & Strategic Roadmap
Looking ahead, SBI is focused on sustainable growth, digital leadership, and deepening financial inclusion.
- Green Financing: Increase Surya Shakti solar loans by 30%; pilot green hydrogen project funding.
- EV Infrastructure: Scale SBI EV-Mitra partnerships to install 5,000 charging stations by FY 2026.
- Digital Expansion:
- YONO User Base to 10 crore; integrate AI-driven personalized banking.
- Launch digital-only micro-branches in 500 unbanked locations.
- Implement blockchain for trade finance to reduce settlement times by 50%.
- Wealth Management Growth: Add 200 wealth hubs; introduce ESG investment products.
- Rural Outreach: Onboard 100 lakh new Pradhan Mantri Jan Dhan Yojana customers; expand SHG micro-credit.
- International Scale-Up: Open branches in two new jurisdictions; deepen NRI services with real-time remittance platform.
- Technology Investments: Upgrade core banking to real-time processing; enhance cybersecurity with AI-based threat detection.
- CSR & Sustainability: ₹700 crore CSR allocation for FY 2025–26; focus on education, health, and environmental projects.