SBI: Indias largest Commercial Bank Dear readers, we are presenting you a post on SBI (State Bank of India) the largest commercial bank of India. Which will give you insight about SBI. 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. Chairperson: Arundhati Bhattacharya is the first female head of SBI. She was born in a Bengali Hindu Kulin Brahmin family in the city of Kolkata . Before being the Chairperson, she held the posts of managing director and chief financial officer at SBI. Arundhati became the 24th Chairperson of the bank by succeeding Pratip Chaudhuri who retired 30 Sep 2013. The headquarter of SBI is in Mumbai, India. 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 merged 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. In 1959, the government passed the State Bank of India (Subsidiary Banks) Act, which made 8 state banks associates of SBI. In 1963, State Bank of Bikaner and State Bank of Jaipur were merged to form State Bank of Bikaner & Jaipur (SBBJ). In 13 September 2008, State Bank of Saurashtra merged with the parent bank - SBI. In 2010, State Bank of Indore was merged with – SBI. Now currently SBI group consists of SBI and 5 associate banks. 1. State Bank of Bikaner & Jaipur 2. State Bank of Hyderabad 3. State Bank of Mysore 4. State Bank of Patiala 5. State Bank of Travancore SBI has 27,000+ ATMs and SBI group (including associate banks) has 32,752 ATMs. SBI has become the first bank to install an ATM at Drass in the Jammu & Kashmir Kargil region. This was the Banks 27,032nd ATM on 27 July 2012. LOGO and Slogan: The logo of the State Bank of India is a blue circle with a small cut in the bottom that depicts perfection and the small man the common man - being the center of the banks business. The logo came from National Institute of Design (NID), Ahmedabad and it was inspired by Kankaria Lake, Ahmedabad Note: Kankaria Lake is one of the biggest lakes in Ahmedabad, Gujarat. A lakefront was developed around it, which has many public attractions such as a zoo, toy train, kids city, tethered balloon ride, water rides, water park, food stalls, and entertainment facilities. Slogan of SBI: Slogans: 1. With you - all the way, 2. Pure banking, 3. Nothing else, 4. A bank of the common man, 5. The banker to every indian, 6. The nation banks on us Some of the major competitors for SBI in the banking sector are Axis Bank, ICICI Bank, HDFC Bank, Punjab National Bank, Bank of Baroda, Canara Bank and Bank of India. However in terms of average market share, SBI is by far the largest player in the market The group has an extensive network, with over 20,000 plus branches in India and another 186 offices in 34 countries across the world. As of 31st March 2013, the group had assets worth USD 392 billion, deposits of USD 299 billion and capital & reserves in excess of USD 23.03 billion. The group commands over 23% share of the domestic Indian banking market. Non-banking subsidiaries Apart from its five associate banks, SBI also has the following non-banking subsidiaries: 1. SBI Capital Markets Ltd 2. SBI Funds Management Pvt Ltd 3. SBI Factors & Commercial Services Pvt Ltd 4. SBI Cards & Payments Services Pvt. Ltd. (SBICPSL) 5. SBI DFHI Ltd 6. SBI Life Insurance Company Limited 7. SBI General Insurance SBI and its five subsidiaries control over one-fifth of the nation’s banking assets and is the 66th largest bank in the world.
Posted on: Fri, 11 Apr 2014 17:29:20 +0000
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