BUSINESS PROFILE :
The State Bank of India is the largest commercial bank in India in terms of profits, assets, deposits, branches and employees. State Bank of India (SBI) was constituted through an act of Parliament in 1955. In October 1996, the bank successfully floated the first GDR issue of any commercial bank in the country and raised USD 369 million, including the greenshoe option. SBI is the only bank in India to be ranked among the top 100 banks in the world and among the top 20 banks in Asia in the annual survey by `The Banker`. SBI has eight business units namely, corporate banking, international banking and domestic banking for concentrating on core areas, associate banks division for looking after the working of these banks, credit division to monitor the overall credit, and three other business units-finance, corporate development and inspection for in-house work. The bank has a network of 66 offices/branches in 29 countries spanning all timezones. The SBI`s international presence is supplemented by a group of overseas and NRI branches in India and correspondent links with over 522 leading banks ofthe world. SBI`s offshore joint ventures and subsidiaries enhance its global stature. Keeping in view the exponential growth achieved in self help group (SHG) financing in the recent past and good repayments (over 90%) under the scheme, the bank has decided to credit link 10 lack SHGs by the end of March 2008.
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