State Bank of India at 70: Tracing the journey of India's biggest lender

From its 1800s roots to today's banking giant, SBI marks 70 years since its birth

The origins of State Bank of India (SBI) date back to the early 1800s, when the East India Company established the Bank of Calcutta, later renamed the Bank of Bengal. This was followed by the formation of the Bank of Bombay and the Bank of Madras. In 1921, these three presidency banks were merged to form the Imperial Bank of India. Subsequently, on July 1, 1955, the Imperial Bank was nationalised to create the State Bank of India, marking the birth of the premier commercial bank of the country. 

 

Today, SBI is the largest commercial bank in India in terms of assets, deposits, branches, customers, and employees. It is also the country's largest mortgage lender. As of March 2025, the bank had a deposit base of over ₹53.82 trillion and advances exceeding ₹42.20 trillion. SBI also boasts the largest network in India, with 22,937 branches, 63,791 ATMs/ADWMs, and more than 77,000 banking correspondent (BC) outlets.

 

While ATM stands for Automated Teller Machine, ADWM represents Automated Deposit-cum-Withdrawal Machine. As SBI completes 70 years of its existence, Business Standard takes a data-driven look at the bank's journey over the decades.