SBI’s balance sheet soars

Blitz Bureau

NEW DELHI: 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,” the SBI statement said.

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