SBI at 70: India’s Largest Bank Now Bigger Than Economies of 175 Countries

The State Bank of India (SBI), the country’s largest lender, recently marked its 70th anniversary. With a legacy that spans over two centuries, SBI now boasts a balance sheet of ₹66 trillion (approximately $0.77 trillion)—larger than the GDPs of 175 countries.

SBI was formed through the merger of the three Presidency Banks and was officially incorporated after the enactment of the SBI Act by Parliament. Founded on July 1, 1955, the bank had deposits of ₹210.95 crore. By March 2025, that figure had grown 25,500 times to ₹53,82,190 crore.

The bank’s advances surged from ₹116.24 crore in 1955 to ₹41,63,312 crore—an increase of 35,800 times. Over the same period, India’s GDP grew from ₹10,977 crore in June 1955 to ₹330,68,145 crore in March 2025, a 3,000-fold expansion. Remarkably, SBI alone accounts for 16% of India’s GDP and 1.1% of the global GDP.

With its ₹66 trillion balance sheet, SBI ranks as the 43rd largest bank in the world. If it were a country, it would be the third most populous after India and China, with 53 crore customers. For context, the United States has a population of around 33 crore—far fewer than SBI's customer base.

A closer look at SBI’s business growth reveals staggering figures:

• Paid-up capital has risen 159 times, from ₹5.62 crore to ₹892 crore.
• Reserves and surplus have jumped 69,300 times, from ₹6.35 crore to ₹4,40,270 crore.
• Total capital has grown 36,800 times, from ₹11.97 crore to ₹4,41,162 crore.
• Total income has increased 61,600 times, from ₹8.5 crore to ₹5,24,172 crore.
• Net profit has soared 52,000 times, from ₹1.36 crore to ₹70,901 crore.

Nationally, SBI operates through 23,000 branches, 78,000 customer service points, and 64,000 ATMs. Beyond commercial banking, the bank plays a pivotal role in the implementation of government welfare schemes. Under the Jan Dhan Yojana, SBI has opened 15 crore accounts. It has also enrolled:

• 14.6 crore people under the PM Suraksha Bima Yojana,
• 6.7 crore under the PM Jeevan Jyoti Bima Yojana, and
• 1.73 crore under the Atal Pension Yojana.

True to its slogan, “The banker to every Indian,” SBI’s journey from a modest national bank to a global financial powerhouse stands as a testament to India’s economic evolution and the deep public trust it commands.