State Bank of India (SBI) is an Indian multinational, public sector banking and financial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra. As of 2014-15, it had assets of Rs.20.480 trillion ($300 billion) spread across 36 countries, making it the largest banking and financial services company in India by assets. The company is ranked 232nd on the Fortune Global 500 list of the world's biggest corporations as of 2016.
SBI provides a range of banking products through its network of branches in India and overseas, including products aimed at non-resident Indians (NRIs). SBI has 14 regional hubs and 57 Zonal Offices that are located at important cities throughout India.
Under the Pradhan Mantri Jan Dhan Yojana of financial inclusion launched by Government in August 2014, SBI held 11,300 camps and opened over 3 million accounts by September, which included 2.1 million accounts in rural areas and 0.88 million accounts in urban areas.
SBI has 18,354 branches in India. As of 31 March 2016, SBI has 49,577 ATMs & SBI group (including associate banks) has 58,541 ATMs.
As far as presence in the international space is concerned: The Israeli branch of the State Bank of India located in Ramat Gan; SBI has 7 retail banking branches in Singapore; The Canadian subsidiary SBI Canada Bank (previously State Bank of India (Canada)) also dates to 1982.
In 1990, it established an offshore bank: State Bank of India (Mauritius), which now has 15 branches; SBI Sri Lanka now has three branches located in Colombo, Kandy and Jaffna; SBI Branch at Tsim Sha Tsui, Hong Kong. In 1982, the bank established a subsidiary, which now has ten branches-ùnine branches in the state of California and one in Washington, D.C.
In Nigeria, SBI operates as INMB Bank; in Nepal, SBI owns 49% of State Bank in Nepal share with Nepal Government owing the rest; in Moscow, SBI owns 60% of Commercial Bank of India, with Canara Bank owning the rest; while in Indonesia, it owns 76% of PT Bank Indo Monex.
SBI already has a branch in Shanghai and plans to open one in Tianjin; in Kenya, SBI owns 76% of Giro Commercial Bank, which it acquired for $8 million in October 2005.
In January 2016, SBI opened its first branch in Seoul, South Korea following continuous and significant increase in trade due to the Comprehensive Economic Partnership Agreement signed in 2009.
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