STATE BANK OF INDIA COMPANY PROFILE II SBI HISTORY - WEBMULTICHANNEL

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STATE BANK OF INDIA COMPANY PROFILE II SBI HISTORY

STATE BANK OF INDIA COMPANY PROFILE 




State bank of India is the largest commercial bank in India in terms of assets deposits profits branches and employees. At the end of 2018-19  (April 10 March, the bank had total assets of 12237 billion, total deposits of 9339.32 billion and recorded a net profit of 82.65 billion. The bank has a vast domestic network of 13542 branches and staff strength of 222933.

The state bank group consisting of the bank and its Associate Banks, has an overwhelming presence in the Indian financial sector, commanding a market share of about one – fourth of deposits and loans of all scheduled commercial bank in the country. total assets of the state bank group as at end-March 2018 out were 16478.98 billion. the net profit of the group worked out to 107.44 billion. the group through its various non-banking subsidiaries provides a whole range of financial services which include life insurance, merchant banking mutual funds credit card factoring security trading and primary dealership in the money market.

Recent Awards and Recognition:

Ø  SBI home loan has maintained its position as India's most preferred home loan brand in CNBC Awaaz consumer awards continuously for five years since 2006

Ø  In the Mobile Banking space in June 2010 the bank received the prestigious IDRBT award for Best use of technology for mobile banking and payment application,

Ø  The Banker-innovation in Banking technology Award 2010 for green ATM installation.

Ø  The NASSCOM CNBC IT User Award 2010

Ø  VISA 2009 Global Service Award under which the bank’s ATM debit card was declared to have the slowest transaction response time

Ø  IBA Technology Award Best Customer initiative and Best


SBI achieved full core banking status in 2008 when all the branches of the bank were made functional on the core banking system. This rapid and commendable technology up-gradation has won the bank many laurels. The bank also enjoys the distinction of the largest ATM network in the country with over 25005 group ATMs of the State Bank Group, from Leh in Ladakh to Kanyakumari in Tamil Nadu.

Glorious Bank Tradition :
The origins of the State Bank of India date back to 1806 when the Bank of Calcutta was established . in 1921 the Bank of Bengal and two other Presidency banks 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 created by an Act of Parliament to succeed the Imperial Bank of India, in its biggest-ever cash purchase, the Government of India in June 2007 acquired the entire Reserve Bank of India (RBI) shareholding in state bank of India consisting of over 314 million equity shares at a total amount of over RS.355 billion . The Bank has completed over 200 years of existence, with an unbroken record of profitability.

Structure and Organisation:
The State Bank of India is committed to best practices in the area of Corporate Governance. The Bank believes that proper corporate governance facilitates effective management and control of Business. This, in turn, enables the Bank to maintain a high level of business ethics to optimize value for all its stakeholders,

The Bank has its Corporate Office at Mumbai, At the helm of affairs is the Bank’s Central Board of Directors, comprising specialists from various sectors. The Directors represent the Government of India RBI shareholders, workmen and non-workmen staff of the Bank There are several independent and non-executive Directors apart from the executive directors on the Board. The Bank’s domestic operational area is divided into 14 Circles each with one Local Head office The Bank’s TOP management consists of the chairman, four Managing Directors, and Deputy Managing Directors.


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