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SBI RELATED STORIES
State Bank of India MYR500 million fixed-rate notes assigned 'BBB-' rating by Standard and Poor's....read more
State Bank of India (SBI) has become the second bank in the world to have more than 10,000 branches....read more
State Bank of India's third-quarter profit rose 70 percent, boosted by loan demand. Net income rose to 18.1 billion rupees ($459 million) in the three months ended Dec. 31 from 10.65 billion rupees a year earlier ....read more
State Bank (SBI) would raise 167.4 billion rupees ($4.2 billion) from the rights issue, including the contribution from the government....read more
State Bank of India plans to raise Rs 10,000 crore (US$2.5 billion)....read more
Fitch Ratings has affirmed State Bank of India's (SBI) ratings, following its announcement to merge the subsidiary State Bank of Saurashtra with itself....read more
Central Board of State Bank of India on August 25 2007, gave it's go ahead to the merger of State Bank of Saurashtra with itself ....read more
SBI Mutual Fund leads Nielsen’s Brand Equity Index in the 2007 Winning Brands Mutual Fund, a premier study that tracks the brand performance of various mutual fund houses....read more
State Bank of India (SBI) has clocked a 78.6 per cent jump in net profit for the first quarter ended June 30, 2007 at Rs. 1,425.81 crore as against Rs. 798.57 crore in the year-ago period. Profits in Q4FY07 and Q1FY08 had been highest ever quarterly profits for SBI....read more
State Bank of India (SBI), UTI Asset Management Company (UTIAMC) and Life Insurance Corporation (LIC) to be the first sponsors of pension funds in the country under the new pension system (NPS) for government employees....read more
In its biggest ever cash purchase, Government on 29th June 2007, acquired entire Reserve Bank of India (RBI) shareholding in State Bank of India....read more
State Bank of India net profits up by 75% at Rs 1,493 crore for the quarter ended March 2007....read more
State Bank of India is planning to introduce a uniform “look and feel” for their branches to enhance its branch image....read more
The Union Cabinet on 19th April 2007 gave its approval for carrying out the Amendments to the State Bank of India ( Subsidiary Banks Laws) Amendment Bill, 2006 introduced in the Lok Sabha on 22nd May, 2006 with a view to enhance flexibility of the Boards of Directors, improve corporate governance and provide power to the Boards of the subsidiary banks to frame regulations.
SBI again raises Benchmark Prime Lending Rate (referred to as SBAR) upwards by 50 bps from 12.25% p.a. to 12.75% p.a. with effect from 9th Aprll 2007.
....read more
SBI Benchmark Prime Lending Rate (referred to as SBAR) has been revised upwards by 75 bps from 11.50% p.a. to 12.25% p.a. with effect from 20th February 2007....read more
The government has finalised plans to buy the Reserve Bank of India's entire stake of 59.73 per cent in State Bank of India (SBI) by December 2006. The finance ministry is working out the modalities. Based on SBI’s current market price, the government may have to pay nearly Rs 350 billion to buy RBI’s stake....read more
In 2005-06, State Bank of India has become the number one Indian investor abroad in 2005-06. It has invested $1bn abroad. In fact, all outward foreign direct investment (FDI) in the banking sector during the year was made by SBI.The PSU bank made investments totalling $1,179m in Mauritius, Kenya and Indonesia last year.
SBI has named new chiefs for four of its subsidiaries - SBI Caps, SBI Mutual Fund, SBI Life and SBI Factors. R Shridharan is new managing director of SBI Capital Markets, its merchant banking arm. US Roy is new MD and CEO of SBI Life.
Syed Shahabuddin would take over as managing director of SBI Mutual Fund. Mr DS Das is made managing director of SBI Factors,
Yogesh Agarwal has been appointed managing director and group executive (national banking) of State Bank of India from October 10, 2006, to June 30, 2010. Prior to taking up the new assignment, Agarwal was managing director of State Bank of Patiala. He joined SBI as a probationary officer in 1972 and has worked on varied assignments, including deputy managing director and chief financial officer. He has served at SBI overseas office in Dubai and Singapore.
There has been reshuffle of the portfolios of the top brass of bank.
DMD and chief financial officer (CFO) Ashwini Kumar Sharma has been made DMD, information technology (IT). MM Lateef, who was heading SBI-Discount and Finance House of India (SBI-DFHI), State Bank’s primary dealer arm, has taken over from Mr Sharma.
Bharati Rao, DMD in charge of international banking, has been made DMD and chief corporate officer (CCO). Former CCO SK Hariharan will now head the bank’s international operations as DMD.
Om Prakash Bhatt has been appointed chairman of the country’s largest bank — State Bank of India. for five-year tenure. Prior to this appointment, Mr Bhatt was managing director at State bank of Travancore. Mr Bhatt, started off as an Probationary Officer in SBI in 1972. Mr Bhatt was posted in London and then in Washington between 1997 and ‘02.
State Bank of India will complete acquisition of Giro Commercial Bank of Kenya and PT Bank Indo Monex of Indonesia by August 2006.
O P Bhatt, managing director of State Bank of Travancore, has taken over as managing director of State Bank of India.
SBI has got three new deputy managing directors (DMD) -
Bharti Rao, DMD of international banking group.
V K Gupta, DMD, Chief Credit Officer.
K Sitaraman, DMD - Information Technology.
These appointments will take the total number of DMDs with SBI to seven. The other SBI DMDs are S K Hariharan (associates and subsidiaries), A K Sharma (chief financial officer), P K Mitra (inspection and audit) and Abhijit Datta (chief development officer). SBI Chairman A K Purwar is retiring at the end of May 2006.
The indefinite strike by employees of SBI has been finally called off after seven-days . Under the settlement, the fresh `cut-off' of basic pay for determining pension has been increased to Rs 21,040 from Rs 8,500
....read
RATINGS BY INTERNATIONAL AGENCIES- MOODY’S, STANDARD & POOR’S, CRISIL,
Fitch
.....Click here
STATE BANK OF INDIA REVIEWED RESULTS FOR FIRST QUARTER-FY 2006-07...Click here
AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31st MARCH 2006
...Click here
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER/ 9 MONTHS PERIOD ENDED 31ST DECEMBER 2005
...Click here
WORKING RESULTS FOR THE QUARTER ENDED 30TH SEPTEMBER 2005
...Click here
WORKING RESULTS FOR THE QUARTER ENDED 30TH JUNE 2005
...Click here
WORKING RESULTS FOR THE YEAR ENDED 31ST MARCH 2005
...Click here
ABOUT STATE BANK OF INDIA
Top Management
Shri.O. P. Bhatt,
Chairman, State Bank of India
Shri S.K. Bhattacharyya,
MD & CC&RO, State Bank of India
Corporate Office
State Bank Bhavan, P. B. No. 12
Madame Cama Road, Mumbai 400 021
Tel No: 022-22022426 (EPBX)
Fax No: 022-22831647, 22040073, 22851391, 22852708
The State Bank of India has been, over the years, the flagship of Indian banking. State Bank of India is the largest bank in India in terms of profits, assets, deposits, branches and employees. With a network of over 9,000 branches in India and 51 foreign offices in 32 countries, the Bank commands about one-fifth of the total deposits and loans in all scheduled commercial banks in the country.
State Bank of India is the successor to Imperial Bank of India. The latter was established in 1921 with the amalgamation of three Presidency Banks of Bombay, Bengal and Madras. State Bank of India came into being on 1.7.1955 through the State Bank of India Act, 1955. The Banks of erstwhile princely states of India joined the State Bank Group as subsidiaries under the State Bank of India (Subsidiary Banks) Act 1959. Over the years, the Bank has expanded rapidly .
The Reserve Bank of India is the single largest shareholder of the Bank (with 59.73% stockholding followed by 14.1% NRI/FIIs, 11.8% financial institutions, 11.1% individuals and remaining with mutual funds and corporates). SBI's shares and bonds are listed for trading on all the major Indian stock exchanges. Its GDR is listed on the Luxembourg Stock Exchange.
With a view to inculcating transparency in banking transactions and for providing information to customers, the Bank launched a Citizen's Charter in the form of the Code of Fair Banking Practices together with the General Terms and Conditions of Service. Appropriately named, 'Towards Excellence' Code reflects the Bank's commitment to provide service of the highest order and serves as a document of self-discipline.
ASSOCIATE BANKS
State Bank of India has the following seven Associate Banks (ABs) with controlling interest ranging from 75% to 100%.
State Bank of Bikaner and Jaipur (SBBJ)
State Bank of Hyderabad (SBH)
State Bank of Indore (SBIr)
State Bank of Mysore (SBM)
State Bank of Patiala (SBP)
State Bank of Saurashtra (SBS)
State Bank of Travancore (SBT)
Branch Network
Interactive branch locator allows you to establish contact with any of the over 8900 SBI branches in India. All you have to do is key in the name of the location, specifying whether it is a branch or district. You can also select a state from the map of India, to view all SBI branches in that state.Click here for Branch Locator .
