State Bank of India (SBI): Best Bank Governance India 2017
Building on a legacy spanning 211 years, State Bank of India (SBI) serves more than 500 million customers. That is fully half a billion clients who conduct well over 700 million transactions every week. State Bank of India is a collection of superlatives from its network of over 24,000 branch offices – staffed by no less than 209,000 employees – and some 59,000 ATMs to the 100,000 or so new accounts opened every business day.
SBI is 61% government-owned with the remainder of the shares in the hands of private investors. The bank is listed on both the Bombay and National stock exchanges. The bank’s GDRs (global depository receipts) are listed on the London Stock Exchange.
As befits its size, SBI maintains a comprehensive sustainability programme and a sound governance framework to ensure the bank meets and exceeds the expectations of both its owners and the wider market. Moreover, SBI boasts a global presence with nearly 200 branches in 36 countries.
Committed to excellence, also in its nation-building mission, State Bank of India operates a green banking channel aimed at addressing environmental concerns. The bank’s sustainability programmes, including corporate social responsibility initiatives, ensure that SBI remains firmly rooted in Indian society and keeps close proximity with its clients.
The CFI.co judging panel agrees that SBI has set the benchmark for governance in India. The judges congratulate State Bank of India with its win of the 2017 Best Bank Governance India Award.
