State Bank of India is a multinational Banking & Financial Services company with Indian Origin. It has presence across 16333 branches across India and abroad(As of 2014-15). State Bank of India which is also called SBI has 191 offices at foreign locations in 36 countries(As of 2014-15). It is undoubtedly the largest banking and other financial services company in India. SBI has its head office in Mumbai and has overall assets of 20,48,080 crores as of 2014-15.
There are many Banks in India out which State Bank of India comes in Top 4 Banks alongside ICICI Bank, Bank of Baroda and Punjab National Bank.
State Bank of India
There are a lots facts to know about State Bank of India. Let us begin with the history of SBI.
History of State Bank of India
In 1806, Bank of Madras collaborated with 2 other Banks of those times – Bank of Calcutta and Bank of Bombay to form another Bank which was known as Imperial Bank of India. In the year 1955 Indian Government took 60% shares of Imperial Bank of India with Reserve Bank of India. The Imperial Bank of India was then renamed as State Bank of India. In 2008, the Government of India bought the remaining 40% stakes which were held by Reserve Bank of India and thus SBI is now fully ownerd by Government of India.
SBI Branches in India
As of 2014-15, State Bank of India has about 16000 branches across India out of which 9851 branches are located in Rural and Semi-Urban areas. In the fiscal year 2012-13, the revenue of State Bank of India was Rs.200,560 Crores from which 95.35% of the revenue was contributed by domestic operations across India only. For the same financial year 2012-13 the profits made by domestic operations were 88.37% of the total profits.
SBI Branches in Foreign Countries
State Bank of India has 191 branches across foreign nationals in more than 36 countries. It is the largest domestic Bank which has its huge presence in Foreign Nations. SBI has branches across many important places like Singapore, Moscow, Colombo, Dhaka, Frankfurt, Hong Kong, Tehran, Johannesburg,London, Los Angeles, Male in the Maldives, Muscat, Dubai, New York, Osaka, Sydney, and Tokyo. SBI also has representative office located at Myanmar, Bhutan and Cape Town and offshore banks in the Bahamas and Bahrain. Singapore also has 7 retail branches of SBI.
List of SBI Associate Banks
State Bank of India had 8 associate banks in 1959 but now it 5 associate banks. All the 5 associate banks of SBI use the logo of State Bank of India i.e. blue circle. These associate banks also use the initial name i.e. ‘State Bank of’ followed by the name of the regional headquarter.
The 5 Associate Banks of SBI are as follows :
- State Bank of Mysore (Establlished in 1913)
- State Bank of Patiala (Establlished in 1917)
- State Bank of Hyderabad (Establlished in 1941)
- State Bank of Travancore (Establlished in 1945)
- State Bank of Bikaner & Jaipur (Establlished in 1963)
Other Subsidiaries of SBI
Thats not all, SBI also has some subsidiaries that can be termed as non-banking.
The 7 non-banking subsidiaries of State Bank of India are :
- SBI Capital Markets Ltd
- SBI Funds Management Pvt Ltd
- SBI Factors & Commercial Services Pvt Ltd
- SBI Cards & Payments Services Pvt. Ltd. (SBICPSL)
- SBI DFHI Ltd
- SBI Life Insurance Company Limited
- SBI General Insurance
State Bank of India Employees
Not many of you might be knowing but State Bank of India is among the largest employers of India. As on 31 March 2014, there are 222,033 people who are working for SBI. Out of the total employees 45,132 are female employees and 2,610 employees with disabilities, 42,744 Schedule Caste employees and 17,243 Schedule Tribe employees. The percentage of Officers was 36%, Assistants was 46% and Sub-staff was 18%. A report also tells that every employee in SBI has on an average contributed a profit of Rs.4.85 lakhs.
Competitor Banks of SBI
Not many banks can compete with SBI. However, some banks can be called big competitors of State Bank of India which are Axis Bank, ICICI Bank, HDFC Bank, Punjab National Bank, Bank of Baroda, IndusInd Bank, Canara Bank, Bank of India and Union Bank of India. When we talk about average market share, State Bank of India leads them all.