State Bank of India is the largest financial and banking services company in India in terms of assets, revenue and market capitalization. It is a state owned institution or corporation with the headquarters in Mumbai, Maharashtra. It traces back to British India, through Imperial Bank of India and with establishment of Bank of Calcutta in 1806, making it oldest commercial bank in the subcontinent. With the merging of Bank of Madras into Bank of Bombay, and Bank of Calcutta, thus forming Imperial Bank of India, which later change to form State Bank of India. Imperial Bank of India got its nationalized status in 1955, with government of India claiming 60% of its stake, which then renamed to the State Bank of India. SBI ranked at 292 positions in the list of Fortune Global 500 in 2011.
Bank provide a wide range of banking services and products through various delivery channels with its vast and widespread network of offices and branches in India and abroad, including services and products aimed as international customers or non-resident Indians. State Bank of India has presently more than 16000 branches and offices, making it the largest banking institution in India with its network. It also has 14 Head Offices located in different part of the country including Delhi, Chandigarh, Patna, Lucknow, Kolkata, Bhuwaneshwar, Hyderabad, Guwahati (North East Circle), Chennai, Bangalore, Trivandrum, Bhopal, Ahmedabad and Mumbai and 57 zonal offices situated in important cities all across the country. To please its international customers it also has more than 130 branches overseas.
It is a behemoth of regional banking and is one of the finest and largest financial and banking institutions of the world. It has a significant market share among various commercial banks in India of around 20% in loans and deposits. According to Forbes Magazine, it is the 29th most admired and reputed company around the world. In addition, State Bank of India also featured in reputed and coveted ‘top brands of India’, in an annual list of The Economic Times and Brand Finance in 2010.
State Bank of India have actively participated and involved in a non-profitable activity naming Community Services Banking. It aims on focusing and developing the financial status of country and to reach to rural and semi urban areas for significant improvement and help in attaining financial help. Bank’s commitment and dedication to nation building is comprehensive and complete. It offers need based and innovative financial products to all sections of society with utmost concern of satisfaction to customers.