SBI (State Bank Of India)
- 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 61.58% ownership.
- SBI is ranked 60th in the list of Top 1000 Banks in the world by “The Banker” in July 2012.
The origins of State Bank of India
- 1806 when the Bank of Calcutta (later called the Bank of Bengal) was established
- 1840 when the Bank of Mumbai was established
- 1843 when the Bank of Madras was established
- In 1921, the Bank of Bengal and two other banks (Bank of Bombay and Bank of Madras) 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.
- On 13 August 2008 when State Bank Of Saurastra merged with SBI.
- Then on 19 June 2009 the SBI board approved the absorption of State Bank Of Indore.
In present, SBI group consists of SBI and five associate banks.
- State Bank of Bikaner & Jaipur
- State Bank of Hyderabad
- State Bank of Mysore
- State Bank of Patiala
- State Bank of Travancore
- The group has an extensive network, with over 20,000 plus branches in India and another 190 foreign offices spread over 36 countries across the world. As of 31st March 2014, the group had assets worth USD 400 billion, deposits of USD 307 billion and capital & reserves in excess of USD 24.60 billion.