State Bank of India
SBID.L
London Stock Exchange109.80
USD
+1.00
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State Bank of India
SBID.L
(London Stock Exchange)
Recent
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109.80
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yld
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ROIC.AI
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- Business
- State Bank of India (SBI), traded as SBID.L, operates as India's largest public sector bank and multinational financial services provider, offering a comprehensive suite of banking products and services through its extensive domestic and international network. Founded in 1955 through the nationalization of the Imperial Bank of India and headquartered in Mumbai, the bank serves over 50 crore customers via more than 22,500 branches, 63,580 ATMs, and 82,900 banking correspondent outlets across India, with 241 offices in 29 foreign countries; it maintains leadership in personal banking with current, savings, salary, and deposit accounts; home, personal, pension, auto, education, gold, and loans against insurance policies, property, or securities; debit, business debit, prepaid, and green remit cards; overdrafts; mutual funds; insurance; equity trading; portfolio investment schemes; remittance services; digital lending; and mobile, internet, digital banking platforms; in corporate and wholesale banking, it provides corporate accounts, working capital, project finance, deferred payment guarantees, corporate term loans, structured finance, dealer and channel financing, equipment leasing, loan syndication, construction equipment loans, financing for overseas subsidiaries or joint ventures, cash management, trade services, and merchant banking; additional offerings encompass NRI services including accounts, investments, loans, remittances; agricultural banking with microcredit and allied activity lending exceeding INR 3 lakh crore; SME financing surpassing INR 4 lakh crore; government banking with INR 65.55 lakh crore turnover and accreditation for major central ministries; international banking with US$8 billion in foreign currency loans to India-related corporates; treasury services; life and general insurance through subsidiaries like SBI Life Insurance and SBI General Insurance; mutual funds via SBI Mutual Fund; credit cards through SBI Card; estate planning; securities broking; trusteeship; factoring; payment solutions; asset and investment management; custody and fund accounting; as well as rural banking via self-help group loans, gold loans, and 1,790 Rural Self Employment Training Institutes. Subsidiaries include SBI Card, SBI Life Insurance, and SBI Mutual Fund, bolstering its diversified ecosystem with assets over INR 61 trillion. Recent developments feature strategic partnerships such as with Luminous Power Technologies in March 2025 to expand solar financing for commercial and industrial sectors; with Flywire in January 2025 for digital disbursement of overseas education loans in Indian rupees; and with BANKIT in December 2024 to launch PERC, a corporate prepaid expense and reimbursement card platform; the bank plans to open 400-600 new branches in fiscal 2024-25 targeting wealth management and rural areas, alongside innovative deposit products like Amrit Vrishti, Amrit Kalash, SBI WECARE for seniors, and SBI Green Rupee Term Deposit; it eyes collaborations with foreign banks for acquisition finance amid RBI guidelines, with M&A lending capped at 10% of core capital; and intends to raise INR 250 billion ($3 billion) via share sale in fiscal 2025, its first equity raise in seven years.