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SBI Crowned Best Bank in India 2024: A Legacy of Excellence

SBI has been awarded 'Best Bank in India 2024' by Global Finance Magazine, recognizing its exceptional services and financial inclusion. The bank has a strong digital transformation, with over 22,500 branches and 62,000 ATMs, and has a market capitalization of over ₹8 trillion.

Global Recognition and Achievement:

  • SBI awarded 'Best Bank in India 2024' by Global Finance Magazine (US)
  • Award presented during IMF and World Bank Annual Meetings in Washington
  • Chairman CS Setty received award for exceptional services and financial inclusion
  • Global Finance's Best Bank Awards known for setting trusted standards in financial evaluation
  • Recognition particularly significant amid global economic challenges
  • Award ceremony part of the prestigious 31st Annual Best Bank Awards

Digital Transformation and Current Performance:

  • Extensive network of 22,500+ branches and 62,000 ATMs
  • Strong digital adoption through YONO platform
  • 63% of new savings accounts opened digitally in Q1 FY25
  • Pre-approved personal loans worth ₹1,399 crore disbursed via YONO
  • Market capitalization crossed ₹8 trillion in June 2024
  • Ranks as world's 200th most valuable company by market cap
  • Holds 23% market share by assets in India
  • Controls 25% of total loan and deposits market

Historical Legacy and Evolution:

  • Traces origins to Bank of Calcutta, founded in 1806
  • Transformed from Imperial Bank of India to SBI in 1955
  • Merged with various princely state banks post-independence
  • Currently ranked 48th largest bank globally by total assets
  • Places 178th in Fortune Global 500 list (2024)
  • Recognized as Domestic Systemically Important Bank by RBI
  • Tenth largest employer in India with 250,000 employees
  • Logo designed by NID in 1971 with 14 Indian language logotypes

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