Company State Bank of India
Brand Value US$ 6.8 Billion
Headquarter City Mumbai
Year Formed 1955
India’s largest commercial bank, State Bank of India is a government-owned institution that operates almost 16,000 domestic branches, more than 43,000 ATMs, and 190 international branches across 36 countries.
The bank’s businesses include consumer and corporate banking, investment banking, insurance, wealth management and credit cards. Formed in its current incarnation around 70 years ago to fund rural economic development, the bank’s heritage dates to the early nineteenth century.
Among its forward-looking initiatives, the bank introduced OnlineSBI, an Internet banking portal to make banking convenient for its customers, enabling them to carry out banking activities, such as money transfer and bill payment, online.
The bank was established in 1806 as Bank of Calcutta, which was later merged along with two other banks to form Imperial Bank of India. The Indian government renamed the Imperial Bank of India the State Bank of India in 1955.