SBI Explained: History, Scale, Ownership and Financials of India's Largest Bank

The State Bank of India (SBI) is India's largest bank by assets and deposits, and one of the oldest commercial banking institutions in the subcontinent. For anyone searching "sbi" — whether for its history, size, ownership or financial performance — here is a concise, fact-based profile of the bank as of October 2026, drawn from its published record.

From the Bank of Calcutta to SBI: A 200-Year Journey

SBI's roots go back to 2 June 1806, when the Bank of Calcutta (later renamed the Bank of Bengal) was established. It was one of three Presidency banks — alongside the Bank of Bombay (1840) and the Bank of Madras (1843) — which held the exclusive right to issue paper currency until the Paper Currency Act of 1861 transferred that right to the government.

On 27 January 1921, the three Presidency banks amalgamated to form the Imperial Bank of India. Under the State Bank of India Act, 1955, the Reserve Bank of India acquired a controlling interest in the Imperial Bank, and on 1 July 1955 it became the State Bank of India. In 2008, the Union of India took over the RBI's stake to avoid a conflict of interest, since the RBI is the banking regulator.

Growth Through Mergers

SBI's expansion has been driven largely by consolidation. Key milestones include:

• 1959: The State Bank of India (Subsidiary Banks) Act turned eight former princely-state banks into SBI subsidiaries, expanding rural outreach during the First Five-Year Plan.
• 1969–1985: SBI rescued and acquired several local banks, including the Bank of Bihar (1969), National Bank of Lahore (1970) and Bank of Cochin (1985).
• 2008–2010: State Bank of Saurashtra and State Bank of Indore merged into SBI.
• 1 April 2017: The five remaining associate banks — State Bank of Bikaner and Jaipur, Hyderabad, Mysore, Patiala and Travancore — along with Bharatiya Mahila Bank, merged into SBI. The deal, cleared in 2016, placed SBI among the world's 50 largest banks by assets.
• March 2020: In an RBI-directed rescue, SBI acquired a 48.2% stake in Yes Bank, which had declined to 26.13% by February 2024.

Scale and Reach Today

As of 2026, SBI operates 23,270 branches and 63,580 ATMs/ADWMs across India, along with around 82,900 business correspondent outlets. Internationally, it has about 245 offices across 29 countries — its first overseas branch opened in Colombo in 1864. The bank serves roughly 53 crore customers as of July 2026 and employs about 2.45 lakh people, making it one of India's largest employers. Its digital platform YONO, launched in November 2017, had 87.7 million users in FY25.

Financial Performance in FY 2026

SBI ranks as the 43rd largest bank in the world by total assets and stood 163rd on the Fortune Global 500 list for 2025. The RBI designates SBI, along with HDFC Bank and ICICI Bank, as a domestic systemically important bank (D-SIB) — institutions considered "too big to fail."

Ownership and Listings

The Union of India is the majority owner with a 55.5% equity stake as of 30 September 2025. SBI's shares trade on the BSE (a SENSEX constituent) and the NSE (a NIFTY 50 constituent), while its Global Depository Receipts are listed on the London Stock Exchange. The group also spans major subsidiaries including SBI Life Insurance, SBI Mutual Fund, SBI Cards (68.63% stake) and SBI General Insurance.

Why SBI Matters for India

Beyond its size, SBI has been central to government-led financial inclusion. Under the Pradhan Mantri Jan Dhan Yojana launched in August 2014, SBI held 11,300 camps and opened over 30 lakh accounts within a month, the majority in rural areas. Its unmatched branch network makes it the default channel for government schemes, pensions and subsidies — a role no private lender currently matches at comparable scale.