State Bank of India (SBI), with more than 200 year history, is the largest commercial bank in India in terms of assets, deposits, profits, branches, customers and employees. The Government of India is the single largest shareholder of this Fortune 500 entity with 58.60% ownership. SBI is ranked 59th in the list of Top 1000 Banks in the world by “The Banker” in July 2015.
The origin of State Bank of India dates back to 1806 when the Bank of Calcutta (later called the Bank of Bengal) was established. In 1921, the Bank of Bengal and two other banks (Bank of Madras and Bank of Bombay) were amalgamated to form the Imperial Bank of India. On 1st of July, 1955 Indian Parliament enacted an act “State Bank of India (SBI) Act 1955” and RBI acquired the controlling interests of the Imperial Bank of India.
SBI group has an extensive network of over 22900 plus branches in India with another 100,000 touch points to serve masses of the country. SBI has 191 offices spread over 36 countries across the world. As of 31st March 2015, the group had assets worth USD 432.02 billion, deposits of USD 328.47 billion, Capital & Reserves in excess of USD 25.82 billion and a net profit of USD 2.75 billion. SBI group commands over 21.62 % share of the domestic Indian banking market.
State Bank of India is committed for providing “Customer Delight” to its customers and has always been improving its product line to match the customer requirements. The commitment of the Bank has resulted in it being awarded a number of awards for the past so many years.
The recent awards include ‘The Coveted Brand of the Year 2015’ by ‘The World Branding Forum’, ‘Most Valuable India Brand 2014’ by ‘Brandz Top 50’, ‘Best Bank – Public Sector’ by ‘BFSI’, ‘Best Trade Finance Bank 2014’ by Global Finance Magazine, ‘Innovation in Customer Data Management’ award by The Banker, ‘Industry Award for Excellence in Home Loan Banking’ by The MY FM Stars of the Industry, ‘Maximum ATMs in Different Locations’ by Asian BFSI Awards etc.
State Bank considers Technology as an important tool in its quest for providing quality service to its customers and has been continuously upgrading its technology. Bank’s commitment to technology has enabled the Group to win seven out of nine awards in the “IBA Banking Technology Awards” namely: (i) The Best Technology Bank of the Year, (ii) Best Internet Bank, (iii) Best use of Mobile Technology, (iv) Best use of Technology in Financial Inclusion, (v) Best Customer Management Initiative, (vi) Best use of Technology in Training and E-learning and (vii) Best use of Technology in Business Intelligence.
SBI has five associate Banks. Besides, SBI has non- banking subsidiaries/joint ventures which are market leaders in their respective areas and provide wide range of services, which include life insurance, merchant banking, mutual funds, credit cards, factoring services, security trading and primary dealership, making the SBI Group a truly large financial supermarket and India’s financial icon. SBI has arrangements with over 1617 various international / local banks to exchange financial messages through SWIFT in all business centres of the world to facilitate trade related banking business, reinforced by dedicated and highly skilled teams of professionals.
Established in 2016 as a branch office of SBI, at Seoul, our main objective is to strengthen Indo-Korean business ties with focus on corporate business from both sides offering a wide range of loan products, such as trade finance, project finance, other customized products suited to the term and structure required for the purpose, apart from the related Forex products and deposit products both for Corporates and Individuals.
Located in the business district of Jongno-gu at the most cozy corner facing Gwanghwamun subway station on the twentieth floor of Kyobo Building, it would, indeed, be our privilege to serve you for any of your banking needs.
Mondays to Fridays
9.30 am to 4.30 pm
[Except Saturdays, Sundays and Public Holidays]