Friday, May 24, 2013 1:32 AM EST

State Bank of India

Overview

State Bank of India (Hindi: भारतीय स्टेट बैंक) (SBI) (BSE: 500112, LSE: SBID) is the largest state-owned banking and financial services company in India, by almost every parameter - revenues, profits, assets, market capitalization, etc. The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making it the oldest commercial bank in the Indian Subcontinent. The Government of India nationalized the Imperial Bank of India in 1955, with the Reserve Bank of India taking a 60% stake, and renamed it the State Bank of India. In 2008, the Government took over the stake held by the Reserve Bank of India.

SBI provides a range of banking products through its vast network of branches in India and overseas, including products aimed at NRIs. The State Bank Group, with over 16,000 branches, has the largest banking branch network in India. With an asset base of $352 billion and $285 billion in deposits, it is a regional banking behemoth. It has a market share among Indian commercial banks of about 20% in deposits and advances, and SBI accounts for almost one-fifth of the nation's loans.

Headlines Around the Web

HDFC Bank not to follow SBI in cutting rates on auto loans

Aug 13 - The Times of India

SBI willing to fund telecom companies for 2G licences

Aug 11 - The Times of India

SBI willing to fund telcom companies for 2G licences

Aug 11 - The Times of India

SBI Q1 net up 137%, but non-performing assets hurt

Aug 11 - The Times of India

SBI Q1 net up 137%, but NPAs hurt

Aug 11 - The Times of India

SBI Q1 profit surges; NPAs cause of concern

Aug 10 - The Times of India

UBS downgrades SBI to 'sell' ahead of earnings

Aug 10 - The Times of India

SBI roped in to provide concessional loans to tribals

Aug 02 - The Times of India

SBI cuts home, auto loan rates

Aug 02 - The Times of India

SBI cuts interest rates on home, car loans

Aug 02 - The Times of India

SBI to open 56 ultra small branches in Assam and Manipur

Jul 15 - The Times of India

SBI waives minimum balance for savings accounts

Jul 04 - The Times of India

M Veerappa Moily favours listing of state electricity boards

Jul 03 - The Times of India

SBI ups FD returns, nixes relief on loans

Jul 01 - The Times of India

SBI to recruit 10,500 staff this fiscal

Jun 26 - The Times of India

SBI cuts lending rates by 0.5-3.5%

Jun 15 - The Times of India

SBI cuts FD rates by 25 basis points, others in line

Jun 08 - The Times of India

SBI beats rivals with cheaper personal loans against property

Jun 07 - The Times of India

Banks to start rate cuts after prod by govt

Mar 19, 2012 - The Times of India

Owner's profile linked to car cover

Feb 29, 2012 - The Times of India

Articles About State Bank of India

Sensex Near 3-1/2 Month High, Trading Above 20,000

By Reuters

The Sensex gains 0.63 percent to trade above the psychologically important level of 20,000, while the broader Nifty is up 0.6 percent. Both indexes hit their highest intraday level since January 29. (May 10)

MORE TOPICS: INDIA, CONSUMER PRICE INDEX

Datawind Completes Aakash 2 Project, Says 1 lakh Units Shipped

By IBTimes IN

Aakash tablet maker Datawind on Thursday announced the completion of the projects it has undertaken and added that it has shipped one lakh units of the tablet to the Indian government. (May 02)

HDFC Bank Net Profit up 30%, Meets Forecast

By Reuters

HDFC Bank Ltd (HDBK.NS), India's No.3 lender by loan value, met forecasts with a 30 percent rise in quarterly profit on Tuesday led by higher loan growth, fee income and stable asset quality. (Apr 23)

DGCA Rejects Kingfisher Airlines' Revival Plans to Resume Operations

By IBTimes IN

The hopes of resuming operations of crisis struck Kingfisher Airlines stand grounded as its revival plans were rejected by the Directorate General of Civil Aviation (DGCA). (Apr 17)

Rate Cut Hopes Rise as Inflation Falls to Lowest in over 3 Years

By Reuters

India's headline inflation slowed to the lowest rate in more than three years in March, hardening expectations the Reserve Bank of India (RBI) will cut interest rates next month to help the economy recover from its slowest growth in a decade. (Apr 16)

MORE TOPICS: GDP, JAPAN, ELECTIONS, INDIA, RBI, QUANTITATIVE EASING

A broker reacts while trading at a stock brokerage firm in Mumbai November 11, 2008.

BSE Sensex Down; Banking, IT Shares Fall

By Reuters

The 50-share Nifty is down 0.83 percent at 5,613.30, below the 200-day moving average which was at 5,638. The benchmark Sensexis 0.98 percent down. Developments in the Korean peninsula and U.S. jobs data due on Friday which will likely signal slowing U.S. (Apr 04)

MORE TOPICS: ELECTIONS, INDIA, INFOSYS, ICICI, CONGRESS

German Bank DVB Seeks De-Registration of 2 Kingfisher Aircraft

By IBTimes IN

Days after UB Group Chairman Vijay Mallya assured of taking measures to restart operations of the grounded Kingfisher Airlines, representatives of German Bank DVB demanded the de-registration of its two planes. (Mar 26)

Sensex Gains; Banks up on Eased Foreign Debt Rules

By Reuters

The BSE Sensex gains 0.66 percent, while the Nifty rises 0.6 percent. Banking shares gain after Finance Minister P. Chidambaram said on Saturday India will ease restrictions for foreign institutional investors in government and corporate bonds next month. (Mar 25)

BSE Sensex Down by 0.3%; Lowest Close in 4 Months

By Reuters

The BSE Sensex fell for a sixth consecutive session on Friday to its lowest close in four months as blue chips such as State Bank of India continued to reel from concerns about political instability and doubts over the prospect of future rate cuts. (Mar 22)

MORE TOPICS: CHINA, BANK OF AMERICA, ORACLE, INDIA, INFOSYS, ICICI

Vijay Mallya Criticises SBI Chief’s Talks on Kingfisher Airlines Loan Recovery

By IBTimes IN

Kingfisher Airlines Chairman Vijay Mallya took a dig at State Bank of India (SBI) Chief Pratip Chaudhuri for his constant interaction with the media over the bank's loan recovery from the grounded airline. (Mar 20)