MUMBAI: State Bank of India, which is celebrating the 70th anniversary of its founding today (July 1), though the nation’s largest lender has an unbroken history dating back 219 years, has grown so big over the past seven decades that its Rs 66 trillion (or $0.77 trillion) balance sheet is now larger than the national GDPs of as many as 175 countries.
From June 30, 1955, when SBI was incorporated after the SBI Act was legislated by Parliament, its deposits stood at Rs 210.95 crore. As of March 2025, they have grown to Rs 53,82,190 crore—a growth of 25,500 times. Its advances, which were just Rs 116.24 crore in 1955, have expanded 35,800 times to Rs 41,63,312 crore, according to data shared by the bank on Tuesday.
In comparison, the nation’s GDP in June 1955 was just Rs 10,977 crore, which has grown 3,000 times to Rs 330,68,145 crore as of March 2025. From a global GDP perspective, SBI now accounts for 1.1% of global GDP and 16% of India’s GDP.
At a global level, India contributed 6.7% to incremental global GDP in FY25, of which SBI alone added 1.1%, or $44 billion, through its asset growth. The incremental growth in the world economy in FY25 was $4,118 billion, with India contributing $297 billion, and SBI accounting for $44 billion of this. In other words, SBI’s growth in FY25 added 1.1% to the global GDP and 16% to India’s GDP. The bank also contributed 8.7% to the gross value added of the financial services sector in FY25.
With a balance sheet size of Rs 66 trillion, SBI ranks as the 43rd largest bank globally. In terms of customer base, with 53 crore customers, SBI ranks as the third largest "country" after India and China, ahead of the US.
Over the past 70 years, SBI’s paid-up capital has grown 159 times, from Rs 5.62 crore to Rs 892 crore. Its reserves and surplus have surged 69,300 times, from Rs 6.35 crore to Rs 4,40,270 crore, taking total capital from Rs 11.97 crore to Rs 4,41,162 crore—an increase of 36,800 times.
The bank’s income has grown 61,600 times, from Rs 8.5 crore to Rs 5,24,172 crore, while profit has jumped 52,000 times, from Rs 1.36 crore to Rs 70,901 crore.
SBI holds a commanding share in the implementation of all government-sponsored social security schemes. It has opened 15 crore accounts under the Jan Dhan Yojana, enrolled 14.6 crore people under the PM Suraksha Bima Yojana, 6.7 crore under the PM Jeevan Jyoti Bima Yojana, and 1.73 crore under the Atal Pension Yojana.
In FY25, SBI accounted for 40% of the total profits of all public sector banks and contributed 2.53% to the national corporate income tax.
The balance sheet of the nation’s largest financial institution has soared to Rs 66 trillion in its 70th year of operations. The SBI Yono app has 8.8 crore registrations, making SBI the equivalent of the 18th most populous "nation" in terms of digital customers.
With over 23,000 branches, 78,000 customer service points, and 64,000 ATMs, SBI truly lives up to its tag of being the banker to every Indian.
SBI is also the largest employer in the banking sector, with a headcount of 2,36,226—up 16.4 times from 14,388 in June 1955. Of these, 27.6% are women.
The number of SBI branches has risen from 469 to 22,937, a 49-fold increase, while its overseas offices have grown from 8 to 244, up 31 times.
SBI was created by merging the three presidency banks, which post their 1921 merger became the Imperial Bank of India.
Globally, SBI ranks 45th in total assets, 27th in pre-tax profits, 44th in core capital, and 43rd in total assets among the world's largest banks.