Company Profile: State Bank of India (SBI)
Overview
State Bank of India (SBI) is India's largest public sector banking and financial services corporation, headquartered at State Bank Bhawan, Nariman Point, Mumbai, Maharashtra, India. The bank commands a 23% market share by assets and a 25% share of the total loan and deposits market in the country. As a publicly traded entity, SBI is indexed in NSE NIFTY 50 and BSE SENSEX. With over 200 years of heritage beginning as the Bank of Calcutta in 1806, it stands as one of the oldest financial institutions in the Indian subcontinent.
Financial Performance (2024)
- Revenue: ₹4.39 lakh crore (US$51 billion)
- Operating Income: ₹86,697.18 crore (US$10 billion)
- Net Income: ₹69,543.62 crore (US$8.0 billion)
- Total Assets: ₹69 lakh crore (US$800 billion)
- Total Equity: ₹4.29 lakh crore (US$50 billion)
SBI showcased a robust financial performance with a net profit growth of 18%, driven by effective management practices and expansion into digital banking services.
Corporate Footprint and Reach
With 22,542 domestic branches and 63,580 ATMs, SBI's footprint spans extensively across India. Internationally, it operates 233 offices in 36 countries, which support a vast array of financial services. The bank caters to over 50 crore customers and employs roughly 232,296 personnel as of March 2024.
Market Capitalization & Recognition
SBI is recognized as one of India's Domestic Systemically Important Banks (D-SIBs), highlighting its critical role within the financial system. In June 2024, the bank reached a market capitalization of ₹8 trillion, becoming the third Indian bank to achieve this feat.
Key Leadership
Challa Sreenivasulu Setty - Chairman
Challa Sreenivasulu Setty has helmed the position of Chairman since August 28, 2024, providing leadership through various regulatory and market challenges. His expertise spans retail and digital banking.
Ashwini Kumar Tewari - Managing Director
Ashwini Kumar Tewari, with over three decades of banking experience, plays a vital role in strategic leadership. His broad geographic exposure, including extensive roles in the U.S., positions him as an asset in international banking.
Vinay M. Tonse - Managing Director (Retail Business & Operations)
Vinay Tonse oversees the retail business and operations segment, crucial due to the diverse range of SBI's retail banking services.
Arjun Sharma - Chief Financial Officer (CFO)
Mr. Arjun Sharma, as CFO, manages financial operations, including planning, risk management, and strategic fiscal alignment. His leadership in financial technologies has significantly enhanced operational efficiency and customer service delivery.
Corporate Social Responsibility and Initiatives
The SBI Foundation undertakes numerous developmental programs in line with the Ministry of Corporate Affairs' guidelines, underscoring SBI's commitment to corporate social responsibility.
Strategic Initiatives
SBI is advancing digital transformation, integrating AI-driven solutions to improve customer experience and operational workflows. The bank is proactive in sustainable financing, championing green projects, and reducing its carbon footprint.
Contact Information
For inquiries, Mr. Arjun Sharma, the Chief Financial Officer, can be reached via:
- Email: arjun.sharma@sbi.co.in
- LinkedIn Profile: [Arjun Sharma](https://www.linkedin.com/in/arjunsharma)
Market Position and Competitive Landscape
SBI maintains a strong stance in the competitive Indian banking sector, leveraging its extensive network and diversified offerings. Under Mr. Sharma's strategic guidance, the bank adeptly navigates market dynamics, ensuring resilience and adaptability in addressing financial trends.
