by Suman Gupta
Mumbai, December 05, 2022: The country’s largest bank, State Bank of India surpassed the milestone of Rs. 5 Trillion Personal Banking Advances on November 30, 2022. This is a significant achievement considering the bank completed this last Rs. 1 Trillion growth in just 12 months. SBI marked the first Rs. 1 Trillion mark in January 2015, followed by Rs. 2 Trillion in January 2018, Rs. 3 Trillion in August 2020, when COVID-19 was at its peak, and the Rs. 4 Trillion mark in November 2021. The trajectory indicates the bank’s progression at an accelerated pace.
SBI has always been ahead of the curve in offering superior value proposition for its esteemed customers. Personal Banking advances mainly comprise Personal loan, Pension loan, Auto loan, Education Loans, P-Gold loan, and Other Personal loan products.
Commenting on the milestone of Rs. 5 Trillion, Shri Dinesh Khara, Chairman, said, “I am delighted to announce yet another milestone achieved by SBI. The bank has always strived to and set aspirational benchmarks for the industry. We are extremely grateful to our customers and stakeholders who have trusted us and played a significant role in achieving this growth. A series of tactical measures and digital initiatives undertaken over the past few years played a crucial role in our journey to the Rs. 5 Trillion mark under Personal Banking advances (other than Housing). We are committed to making, Banking a delightful experience for our customers.”
About State Bank of India:State Bank of India is the largest commercial bank in terms of assets, deposits, branches, customers, and employees. SBI has 22,309 branches and 65,796 ATMs / ADWMs in India with 66,757 BC outlets. As on September 30, 2022, the bank has a deposit base of over Rs. 41.90 lakh crore and advances of more than Rs. 30 lakh crore. It is also the largest mortgage lender in the country which has so far fulfilled the home buying dreams of over 30 lakh Indian families. SBI commands a market share of 32.9% and 19.2% in home loans and auto loans respectively. The number of customers using internet banking and mobile banking stand at 107 million and 54 million respectively. With SBI’s digital strategy right on track – the bank witnessed 63% of new savings accounts opened through the integrated digital and lifestyle platform YONO in FY23. SBI observed 23,200 new digital savings bank accounts being opened per day via YONO in the quarter ended September 2022. YONO, which has 5.44 crore registered users, witnessed 72.75 lakh customer visiting YONO Shop & Order in Q2 FY23. SBI also has the highest number of followers on Facebook and Twitter amongst all banks worldwide.
