SBI’s US Offices are your best link to India with a 15000+ branch network of SBI and its Associate Banks in India.
SBI’s US branches offer a wide array of services including money transfer, deposits, loans and trade services.
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 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 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.
The SBI group consists of SBI and five associate banks. The
group has an extensive network, with over 20000 plus branches in India
and another 173 offices in 34 countries across the world. As of 31st
March 2012, the group had assets worth USD 359 billion, deposits of USD
278 billion and capital & reserves in excess of USD 20.88 billion.
The group commands over 22% share of the domestic Indian banking market.SBI's non- banking subsidiaries/joint ventures are market leaders in their respective areas and provide wide ranging services, which include life insurance, merchant banking, mutual funds, credit cards, factoring services, security trading and primary dealership, making the SBI Group a truly large financial supermarket and India's financial icon. SBI has arrangements with over 1500 various international / local banks to exchange financial messages through SWIFT in all business centres of the world to facilitate trade related banking business, reinforced by dedicated and highly skilled teams of professionals.
Glorious Banking Tradition
Origin of State Bank of India dates 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 Presidency Banks (Bank of Madras and Bank of Bombay) were amalgamated to form the Imperial Bank of India. In 1955, the controlling interests of the Imperial Bank of India were acquired by the Reserve Bank of India and the State Bank of India was created by an Act of Parliament to succeed the Imperial Bank of India. The Bank has completed over 200 years of existence, with an unbroken record of profitability.
Awards and Recognition
The Bank has been awarded accolades by various financial and economic magazines both in India and abroad, the notable few are -
- "Bank of the Year 2009 - India" by 'The Banker' magazine for the second time in succession.
- "Only Indian Bank" in 'Fortune 500' Global List - 2009.
- "Best Bank 2009" by Business India Group.
- In SME financing, SBI ranked first and two National Awards for Excellence "SME Lendings" and "Micro Enterprise Lending". Were awarded by MS & ME, Govt. of India, in 2009.
- "IBA, Finacle & TFCI Banking Technology Awards 2009: Technology Bank of the Year"
Transformation Journey
The bank has entered into many new businesses with strategic tie-ups like Pension Funds, General Insurance, Custodial Services, Private Equity, Mobile Banking, Point of Sale Merchant Acquisition, Advisory Services, Structured Products, etc.
Mobile Banking
Considering the immense potential and the cost effectiveness of delivery the bank plans to implement mobile telephone based banking services in a big way.
Customer Service
The Bank adopted a vision statement for it's employees envisaging -
My SBI, My Customer First,
My SBI, First in Customer Satisfaction.
Strongly believing in customer service being the most important factor in maintaining its leadership, it is reflected in its operations everywhere, thereby leading to an island of customer delight, growth and profit.
