History of SBI bank: The State Bank of India (SBI Bank) remains the largest bank in India as of 2025. It’s a public sector, multinational bank and financial services company. Holding about 23% of India’s banking assets and approximately 25% share in total deposits and loans, SBI is the top choice for many MBA aspirants aiming for an SBI career!
State Bank of India (SBI Bank) history
The State Bank of India (SBI Bank) originated as the Bank of Calcutta on June 2 , 1806, in Kolkata. In January 1809, it gained its charter and was renamed the Bank of Bengal—India’s first joint-stock bank, sponsored by the Bengal government. Alongside the Bank of Bengal, the Bank of Bombay (founded 15 April 1840) and the Bank of Madras (founded 1 July 1843) formed the three presidency banks that became the core of modern Indian banking.
Initially, all three presidency banks were set up for these key reasons:
- Lack of modernization in the Indian economy
- Local European trade needs and requirements
- Imperial finance demands
These banks evolved into today’s State Bank of India by adopting banking models from England and Europe. Shifts in India’s local trade environment, growing economic ties with Europe, and changes in the global economy further shaped their growth and transformation.
The current position of the State Bank of India (SBI Bank)
The State Bank of India sits at the top of India’s banking landscape. With over 22,500 branches, 63,580 ATMs/ADWMs, and 82,900 BC outlets, it serves more than 500 million customers nationwide. Holding roughly 23% of India’s banking assets and 25% of deposits and loans, SBI outpaces every other bank in size and reach.
Beyond its vast network, SBI leads in innovation and partnerships. It’s the only Indian bank in the Fortune Global 500 (ranked 178th in 2024) and India’s top arranger of external commercial borrowings and infrastructure debt. Strategic tie‑ups in insurance, pensions, private equity, custodial services, and digital banking (YONO, TAB Banking, KYC‑on‑wheels) continue to drive its rapid growth.
On the corporate front, SBI is deepening its wholesale banking, derivatives, structured products, and global treasury operations to meet the evolving needs of India’s businesses. This strong blend of scale, innovation, and strategic focus keeps SBI firmly positioned as India’s banking powerhouse.
Community Services & Digital Initiatives
Apart from its banking operations, the State Bank of India actively contributes to society through various welfare and development programs. These initiatives reflect SBI’s commitment to nation-building and community service.
Since 1973, SBI’s Community Services Banking program has supported social causes across India. Every branch and administrative office takes part in welfare activities, such as health awareness drives, education sponsorships, and financial literacy programs.
Digital Banking
To make banking faster and more convenient for customers, SBI has launched several innovative digital facilities. These services ensure that basic banking needs are met right at the customer’s doorstep, making banking simpler and hassle-free.
- TAB Banking for Home Loans
Tablet‑based application and in‑principle approval right at your doorstep. - TAB Banking for Savings Accounts
Open a new savings account through a branch‑powered tablet visit. - KYC‑on‑Wheels
Mobile team visits you to complete Know Your Customer (KYC) checks digitally.
Other SBI Services
SBI offers a wide range of banking and financial services designed to cater to different customer segments. Whether it’s personal savings or large corporate funding, SBI covers every aspect of banking in India and abroad.
- Personal Banking
- Rural & Agriculture Banking
- SME Banking
- Domestic Treasury Services
- NRI Services
- International Banking
- Corporate Banking
- Government Business
This is all from our side in this blog. Stay tuned.
History of SBI Bank FAQs
Ans. SBI began as the Bank of Calcutta on June 2, 1806.
Ans. The Bank of Bengal was chartered in January 1809.
Ans. SBI serves over 500 million customers through 22,500+ branches.
Ans. TAB Banking, KYC-on-Wheels, and YONO digital banking services.
Ans. Yes, SBI ranks 178th in the Fortune Global 500 list (2024).
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