State Bank of India is the largest commercial bank of India. It is the only Indian Bank to find a place in the Fortune Global 500 list. Ranked 64th in the Top 1000 Banks in the world – The Banker. It has received strongest Banks in Asia Award 2010 from The Asian Banker.
The bank has a vast domestic network of over 10,800 branches (approximately 14% of all bank branches in India) and has over 8,500 ATMs. It commands 15.14% of deposits and 15.61% of advances of all scheduled commercial banks in India. The Corporate Centre of SBI is in Mumbai. The bank has 14 Local Head Offices which are located in various parts of the country. In addition, the State Bank of India has 84 foreign offices / branches in 32 countries across the globe.
There are eight domestic banking subsidiaries that come under SBI Group. Seven of these use the “State Bank of” name followed by their regions name. All the banks use the same logo of a blue keyhole. Currently, the group is in the process of merging all the associate banks into SBI, which will create a “mega bank”, enabling the Group to streamline operations and unlock value. The Bank has over ten Non-Banking Subsidiaries in India covering several business areas.
Some of the important subsidiaries are:
- SBI Life Insurance Co. Ltd.
- SBI DFHI Ltd.
- SBI Capital Markets Ltd.
- SBI Funds Management Pvt. Ltd.
- SBI Factors & Commercial Services Pvt. Ltd.
SBI DFHI Ltd. is a State Bank of India Group Company with impeccable lineage, created out of the merger in 2004 of the two leading players in the domestic Money and Debt markets – the RBI promoted Discount & Finance House of India (DFHI) and SBI Gilts Ltd, a subsidiary of India’s largest commercial bank. SBI DFHI Ltd. is a market leader in the Primary Dealer segment of the domestic debt market, with a Net Worth of Rs. 1109.89 crores (as on 31st March 2010) and a presence in all major financial centers of the country. It posted an impressive turnover of Rs. 68,735 crores in Government Securities and Rs. 10,176 crores in Treasury Bills respectively.