State Bank of India which is very famously known as SBI in our country. You may come across at least one of its branches and ATM machines in any city or town in India. Let us explore some of the facts or things you should know about the State Bank of India.
1. State Bank of India is Owned by the Government of India
The parent organization of the bank is the Government of India. The Government of India owns the majority of the state in the bank.
Other than the stake of the GOI, the shares of the bank are owned by other institutions and the general public. (equity shares)
2. The Bank is listed on NSE and also BSE in India
If you wish to own the share of the bank. Then you can buy you should know that the State Bank of India is a listed company.
3. The Bank is also Listed on London Stock Exchange (LSE)
The shares of the State Bank of India are not only traded in India. But they are traded also in London which is the capital city of England and the United Kingdom. The shares of SBI are traded on LSE as SBID.
4. It is the Most Trusted Bank in India
In India, we basically show more trust towards the public sector bank. And here State Bank of India is the largest public sector bank. So it has a lot of trust and preference that is given by the people of our country.
5. The Headquarters of SBI is in Mumbai
The headquarters of the State Bank of India is located in the city of India in Maharashtra. If you ever wish to go there for some reason. Then you can easily get the navigation details using any map application on your smartphone.
6. State Bank of India Offers both Banking and Financial Services
In India, SBI offers both banking and financial services. Meaning you can open a savings bank account or a joint account with the bank. And the bank also offers different types of loans to customers.
7. SBI Card is a Subsidiary of the Bank
SBI not just offers banking and loans but is also into the business of credit cards in India. People generally refer to as State Bank of India credit card.
But actually, the credit card business is handled by a subsidiary by the name “SBI Cards and Payments Services Ltd.” This subsidiary is owned by the bank and Carlyle Group.
8. State Bank of India has a network of more than 60,000 ATM machines
The bank has a large network of more than 60,000 ATM machines across the globe. As per the data available on Wikipedia as of 10-10-2021. The bank has a network of 62,617 ATMs.
9. The Bank has More than 22,000 Branches
The bank has more than 22,000 branches or locations spread across the globe. As per the Wikipedia page of the bank, it has 22,219 branches as of 10-10-2021.
If you wish to change your home branch then the bank now also allows you to do it online with the help of internet banking services.
10. The Bank has More than 220 Branches in 31 Countries
State Bank of India not only operates in India. But it has its operations running in 31 countries. This makes it have a network of more than 220 foreign country offices and branches.
11. State Bank of India owns .SBI domain Extenstion
This fact about the bank gives us a sense of power that the bank has with it. The bank owns the .SBI domain name extension.
The other banks in India either use .com, .org, or .in domain names. But for some of its websites, the State Bank of India uses .SBI domain extenstion.
The official website of the bank is bank.sbi
12. State Bank also has a General Insurance Company
The bank not only deals in the banking, financial, and credit card space. But it also has its business in the general insurance space in India.
The name of the insurance subsidiary of the bank is SBI Life Insurance Company. This subsidiary is owned by the bank and BNP Paribus.
13. One of the Largest Employer in India with More than 2,40,000 Employees
State Bank of India is one of the largest employers in India. As per the Wikipedia page, it has 2,45,642 employees as of March 2021.
14. SBI Owns 30% Stake in Jio Payments Bank
In recent years we have seen that there is growth in the payments bank sector too. One of the well-known payments banks in India is Jio Payments Bank.
The State Bank of India owns around 30% of the stake in Jio Payments Bank as per the Wikipedia page of the bank as of 10-10-2021.
15. The Bank also has a Mutual Funds Business
If you want to invest in Mutual Funds, then the bank has its business in the mutual funds as well. State Bank of India has a non-banking subsidiary company that deals in mutual funds in India.
The mutual funds business was incorporated in the year 1987 with its headquarters in Mumbai, Maharashtra. Some of the funds of the company are,
- SBI Banking and Financial Services Fund.
- Magnum Income Fund.
- Multi-Asset Allocation Fund.
- Magnum Constant Maturity Fund.
- Magnum Medium Duration Fund.
- And the Magnum Technology Opportunities Fund, etc.
If you wish you can check out the complete list on the official website of SBI Mutual Fund.
16. The First Woman Chairperson of SBI was Arundhati Bhattacharya
Arundhati Bhattacharya was appointed as the first woman chairperson of the bank on 7 October 2013. She was the 23rd chairperson of the bank and held the office from 7 October 2013 to 6 October 2017.
17. SBI also Deals in Investment Banking Corporate Advisory Services
Other than the banking, financial, credit card, mutual fund area. The bank also deals in investment banking and corporate advisory services.
The bank has a subsidiary by the name SBI Capital Markets headquartered in Mumbai, Maharashtra that deals in these services.
18. SBI also Offers FASTag Services
These days if you are purchasing a new vehicle then it is mandatory to have a FASTag. State Bank of India also offers FASTag Services.
Whenever you pass through the toll on the national highways the toll will be automatically deducted from your FASTag balance.
In fact, the bank has services for almost everything related to money and finances in India. It deals directly or with a subsidiary.
19. First Bank to Open a Branch in China
State Bank of India was the first bank based in India to open a branch in the mainland of China. The bank had a representative office in China since 1997.
Later in the year 2006, the bank expanded its operations by establishing a full-scale branch in China.
20. First Indian Bank to link up with China National Advance Payment System
State Bank of India became the first Indian bank that linked up with China’s National Advance Payment System. (CNAPS) in the year 2019. CNAPS system allows for the real-time settlement of funds.
You can read more about it in The Economic Times.