State Bank of India (SBI) is a statutory organization for financial services and a multinational public sector bank with its headquarters in Mumbai, Maharashtra. SBI, the sole Indian bank on the Fortune Global 500 list of the largest firms in the world in 2020, is the 49th-largest bank in the world by total assets and is rated 221st overall. SBI net worth is $338 Billion.
It is a public sector and the biggest bank in India, with a 25% percent of the overall loan and deposit market and a 23% market share for assets. With approximately 250,000 workers, it ranks as India’s fifth-largest employer. Over the course of its 200-year history, the bank has been created through the merger and acquisition of roughly twenty banks.
In 1955, the Indian government acquired control of the Imperial Bank of India, renaming it State Bank of India, with the Reserve Bank of India owning a 60% interest.
SBI net worth is $338 Billion.
SBI History
The Bank of Bengal, subsequently known as the Bank of Calcutta, was founded on June 2, 1806; this is where the origins of the State Bank of India may be traced. The Bank of Bengal and the Bank of Bombay, established on April 15, 1840, were the other two Presidency banks (incorporated on 1 July 1843). Royal charters led to the formation of all three Presidency banks as joint stock companies. Before 1861, when the Paper Currency Act gave the Indian government control of the privilege, these three banks had only the authority to print money.
On January 27, 1921, the Presidency banks merged, and the newly formed banking organization adopted the name Imperial Bank of India. Even without government support, the Imperial Bank of India remained a joint-stock business.
The Reserve Bank of India, the country’s central bank, purchased a controlling interest in the Imperial Bank of India in accordance with the stipulations of the State Bank of India Act of 1955. The Imperial Bank of India changed its name to the State Bank of India on July 1st, 1955. Since the Reserve Bank of India regulates the nation’s banking industry, the Government of India purchased the RBI’s holding in SBI in 2008 to avoid any potential conflicts of interest.
| Full name | State Bank of India |
| Founded | 1 July 1955; 67 years ago |
| Headquarters | State Bank Bhawan, M.C. Road, Nariman Point, Mumbai, Maharashtra, India |
| Industry | Banking and Financial Services |
| Parent | Government of India, Ministry of Finance |
| Chairman | Dinesh Kumar Khara (since 2020) |
| Revenue | $51 billion (2022) |
| Operating Income | $9.9 billion (2022) |
| SBI Net Worth | $338 billion (2022) |
| Subsidiaries | 7 |
| Last Updated | October 2022 |
SBI net worth is $338 Billion.
SBI Net Worth
Government-owned SBI net worth is $338 Billion in 2022. That stands around ₹280 crores in Indian currency. SBI is the biggest bank in India with well over 200k employees all over the country. SBI net worth has seen continuous growth over the past 5 years and continues to grow in the period of rapid digitalization of banking services in the nation.
SBI has over $650 billion worth of assets in 2022 and that alone makes it one of the largest organizations in the nation. SBI is regarded as the most secure, safe, and sound bank in the nation among the general public.Â
SBI net worth has grown from $307 billion in 2021 to $338 in 2022. The growth can be attributed to reforms in the banking industry and subsidiaries of the bank. SBI has operations around the world but the majority chunk of revenue comes from services in India.
SBI Net Worth Growth
| SBI Net Worth 2022 | $338 Billion |
| SBI Net Worth 2022 | $307 Billion |
| SBI Net Worth 2022 | $280 Billion |
| SBI Net Worth 2022 | $267 Billion |
| SBI Net Worth 2022 | $265 Billion |
SBI net worth is $338 Billion.
SBI Subsidiaries
SBI has 7 subsidiaries. Some of them are SBI-related services such as SBI Cards, SBI Life Insurance, and SBI General Insurance. SBI acquired more than 48% of shares in Yes Bank in 2020, after RBI directed a rescue deal in March 2020. Other subsidiaries include Jio Payments Bank, Andhra Pradesh Grameena Vikas Bank, and Kaveri Grameena Bank.
SBI Shareholding and Employees
Government of India owned about 61.23% of the equity shares in SBI as of March 31, 2017. With 8.82% of the company’s shares, the state-owned Life Insurance Corporation of India is the largest non-promoter shareholder.
As of 31 March 2021, SBI had 245,652 employees, making it one of the largest employers in the world. Nearly 26% of the overall workforce is made up of female employees. On the same date, the proportions of officers, associates, and subordinate staff were 44.28%, 41.03%, and 14.69%, respectively. During the fiscal year 2020–21, each employee contributed a net profit of 828,350 ($10,000).
SBI net worth is $338 Billion.
SBI Social Media AccountsÂ
| 17m followers | Link | |
| 2.2m followers | Link | |
| 4.5m followers | Link | |
| YouTube | 420k subscribers | Link |
| 8.4k followers | Link |
10 Facts about SBI
- State Bank of India (SBI) is a statutory organization for financial services and a multinational public sector bank with its headquarters in Mumbai, Maharashtra.
- It was founded in 1955.
- SBI was formerly known as the Imperial Bank of India.
- Dinesh Kumar Khara is the current chairman of SBI, since 2020.
- SBI net worth is $338 billion in 2022, with more than $650 billion in assets.
- SBI is governed by the Government of India and the Ministry of Finance.
- SBI is one of the top most prominent employers in the nation, with over 200k employees.
- In 2022, SBI became the 7 Indian company to cross ₹ 5 trillion market capitalization.
- SBI has 7 subsidiaries.
- As part of a rescue plan approved by the RBI, the State Bank of India purchased 48.2% of the shares of Yes Bank in March 2020.
SBI net worth is $338 Billion.
Frequently Asked Questions about SBI
What is SBI net worth?
SBI net worth is $338 billion in 2022.
How many assets does SBI have?
SBI has more than $650 billion worth of assets.
When was SBI founded?
SBI was founded in 1955.
What was SBI previously known as?
SBI was formerly known as the Imperial Bank of India.
SBI is what kind of bank?
SBI is a public sector bank.
Who is the chairman of SBI?
Since 2020 Dinesh Kumar Khara is the chairman of SBI.
Who has the majority stake in the SBI?
The government of India has a majority stake in the SBI.
What industry does SBI operate in?
SBI operates in the sector of banking and financial services.
How many subsidiaries does SBI have?
SBI has 7 subsidiaries.
Is SBI the largest bank in India?
SBI is the largest bank in India and the 49th largest in the world by assets.
Conclusion
State Bank of India (SBI) is a statutory organization for financial services and a multinational public sector bank with its headquarters in Mumbai, Maharashtra. It was founded in 1955. SBI was formerly known as the Imperial Bank of India. Dinesh Kumar Khara is the current chairman of SBI, since 2020. SBI net worth is $338 billion in 2022, with more than $650 billion in assets.
SBI net worth is $338 Billion.
It is owned by the Government of India and is one of the top most prominent employers in the nation, with over 200k employees. SBI is the largest bank in India and the 49th largest in the world by assets. In 2022, SBI became the 7 Indian company to cross ₹ 5 trillion market capitalization.Â
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