SBI storms into 70th year with balance sheet soaring to Rs 66 lakh crore

Mumbai, July 1 (IANS) The State Bank of India (SBI), the nation’s largest financial institution, is celebrating its 70th year of operations with a balance sheet that has soared to Rs 66 lakh crore and the number of its customers surging past a staggering 52 crore.

Since its inception in 1955, SBI has evolved from supporting India’s early development goals into a driving force of its digital and green economy.

In order to play a lead role in India’s renewable energy transition, SBI’s Solar Rooftop Programme aims to solarise four million homes by FY2027, advancing India’s Net Zero 2070 goals, according to an SBI statement.

SBI also announced that as part of its continued focus on customer excellence, it is modernising its Trade Finance operations through digitalisation, standardisation, and centralisation. A new centre in Kolkata will serve branches across India, ensuring faster and efficient service.

Globally, with 244 overseas offices in 55 countries, SBI has been ranked the 4th Most Trustworthy Bank Globally by Newsweek (2024) and Best Bank in India 2024 by Global Finance Magazine.

A cornerstone of SBI’s long-term vision is the expansion of its Project Finance & Structuring Strategic Business Unit (PF&S SBU), which plays a vital role in funding large-scale infrastructure and emerging sectors like renewable energy, e-mobility, data centres, semiconductors, green hydrogen, decarbonisation and smart infrastructure. Towards this end, SBI is setting up a Centre of Excellence which will serve as a guiding force on new age sectors and become an “asset of national Importance”, the SBI statement said.

SBI drives financial inclusion through 151 million+ Jan Dhan accounts and an extensive correspondent network. The bank’s agricultural lending exceeded Rs 3.5 lakh crore in FY25 -- the highest in the country -- supporting farm infrastructure, according to the statement.

In FY2025, the Bank reinforced its social impact footprint by investing Rs 610.8 crore in CSR initiatives, reaching 94 Aspirational Districts. Its efforts spanned healthcare, education, rural development, and environmental sustainability.

Digital innovation is central to SBI’s strategy, with 98.2 per cent of transactions via digital platforms and over 8.8 crore YONO users. As a key digital offering for supporting MSMEs, SBI has also deployed its Business Rule Engine (BRE) to fast-track SME loans up to Rs 5 crore, enabling Straight Through Processing. By March 2025, over 93,900 loans worth Rs 47,789 crore had been sanctioned through BRE, the statement said.

SBI is actively deploying Gen AI, Big Data, predictive analytics, and LLMs to personalise customer experiences. To modernise customer touchpoints, over 25,000 ATMs will be upgraded in FY2026. This is supported by the upcoming Data Lakehouse Project, delivering real-time AI insights across the Bank’s operations, the statement added.

SBI Chairman C.S. Setty said, “As India steps into a new era of growth and opportunity, SBI is building the foundation for the future of banking -- one that is digital at its core, inclusive in its reach, and sustainable in its impact. To reiterate from our press release on 1st July 1955, our policy, as always, will be guided by the ideal -- to further the interests of our customers and those of the entire nation, now and in the years to come.”

--IANS

sps/dpb