With a legacy spanning over two centuries, the State Bank of India (SBI) has not only maintained its leadership in deposits as well as advances, but also shown the way to the banking industry. The Mumbai-headquartered bank has now identified technology, resilience and people as the three pillars for its next phase of growth.
In the BT-KPMG Best Banks Survey 2020-21, SBI was the unanimous choice of the jury for Enterprise Resilience. In a post-pandemic world, SBI, with a domestic loan book of over ₹23 lakh crore is rock steady. The bank’s super app YONO (You Only Need One) is handing out digital loans, offering investment products, etc. Swaminathan Janakiraman, MD (Risk, Compliance & Stressed Assets Resolution Group) said recently that the changing regulatory landscape has made it essential for businesses to ensure that their governance practices are dynamic and robust. “Regular risk assessment, monitoring and management have helped the bank retain its leadership position despite current and past crises,” Janakiraman said.
The bank is already investing in emerging sectors such as renewable energy and clean mobility. Its liquidity coverage ratio of close to 160 per cent as against the regulatory mini mum of 100 per cent shows that the bank has enough liquidity to meet any sudden fund outflow requirements. SBI’s capital adequacy ratio is also comfortable at 13.2 per cent.