State Bank of India

State Bank of India Logo
Type	Public
Traded as	NSE: SBIN BSE: 500112 LSE: SBID BSE SENSEX Constituent
Industry	Banking, Financial services
Founded	1 July 1955
Headquarters	Mumbai, Maharashtra, India
Area served	Worldwide
Key people	Pratip Chaudhuri (Chairman)
Products	Credit cards, Consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, wealth management
Revenue	US$32.44 billion (2011)[1]
Profit	US$2.34 billion (2011)[1]
Total assets	US$369.56 billion (2011)[1]
Total equity	US$18.71 billion (2011)[1]
Owner(s)	Government of India
Employees	222,933 (2011)[1]
Website	www.statebankofindia.com

State Bank of India (SBI) (NSE: SBIN, BSE: 500112, LSE: SBID) is the largest banking and financial services company in India by revenue, assets and market capitalisation. It is a state-owned corporation with its headquarters in Mumbai, Maharashtra. As of March 2011, it had assets of US$370 billion with over 13,577 outlets including 157 overseas branches and agents globally. The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making it the oldest commercial bank in the Indian Subcontinent. Bank of Madras merged into the other two presidency banks—Bank of Calcutta and Bank of Bombay—to form the Imperial Bank of India, which in turn became the State Bank of India. The Government of India nationalised the Imperial Bank of India in 1955, with the Reserve Bank of India taking a 60% stake, and renamed it the State Bank of India. In 2008, the government took over the stake held by the Reserve Bank of India. SBI is ranked No. 292 globally in Fortune Global 500 list in 2011.^[2]

SBI provides a range of banking products through its vast network of branches in India and overseas, including products aimed at non-resident Indians (NRIs). The State Bank Group, with over 18,324 branches, has the largest banking branch network in India. SBI has 14 local head offices situated at Chandigarh, Delhi, Lucknow, Patna, Kolkata, Guwahati (North East Circle), Bhuwaneshwar, Hyderabad, Chennai, Trivandram, Banglore, Mumbai, Bhopal & Ahmedabad and 57 Zonal Offices that are located at important cities throughout the country. It also has 157 branches overseas.

SBI is a regional banking behemoth and is one of the largest financial institutions in the world. It has a market share among Indian commercial banks of about 20% in deposits and loans.^[3] The State Bank of India is the 29th most reputed company in the world according to Forbes.^[4] Also, SBI is the only bank featured in the coveted "top 10 brands of India" list in an annual survey conducted by Brand Finance and The Economic Times in 2010.^[5]

The State Bank of India is the largest of the Big Four banks of India, along with ICICI Bank, Punjab National Bank and HDFC Bank—its main competitors.^[6]

History[link]

The roots of the State Bank of India lie in the first decade of 19th century, when the Bank of Calcutta, later renamed the Bank of Bengal, was established on 2 June 1806. The Bank of Bengal was one of three Presidency banks, the other two being the Bank of Bombay (incorporated on 15 April 1840) and the Bank of Madras (incorporated on 1 July 1843). All three Presidency banks were incorporated as joint stock companies and were the result of the royal charters. These three banks received the exclusive right to issue paper currency in 1861 with the Paper Currency Act, a right they retained until the formation of the Reserve Bank of India. The Presidency banks amalgamated on 27 January 1921, and the re-organized banking entity took as its name Imperial Bank of India. The Imperial Bank of India remained a joint stock company.

Pursuant to the provisions of the State Bank of India Act of 1955, the Reserve Bank of India, which is India's central bank, acquired a controlling interest in the Imperial Bank of India. On 30 April 1955, the Imperial Bank of India became the State Bank of India. The government of India recently acquired the Reserve Bank of India's stake in SBI so as to remove any conflict of interest because the RBI is the country's banking regulatory authority.

In 1959, the government passed the State Bank of India (Subsidiary Banks) Act, enabling the State Bank of India to take over eight former state-associated banks as its subsidiaries. On 13 September 2008, the State Bank of Saurashtra, one of its associate banks, merged with the State Bank of India.

SBI has acquired local banks in rescues. For instance, in 1985, it acquired the Bank of Cochin in Kerala, which had 120 branches. SBI was the acquirer as its affiliate, the State Bank of Travancore, already had an extensive network in Kerala.

International presence[link]

The Israeli branch of the State Bank of India located in Ramat Gan.

As of 31 December 2009, the bank had 157 overseas offices spread over 32 countries. It has branches of the parent in Colombo, Dhaka, Frankfurt, Hong Kong, Tehran, Johannesburg, London, Los Angeles, Male in the Maldives, Muscat, Dubai, New York, Osaka, Sydney, and Tokyo. It has offshore banking units in the Bahamas, Bahrain, and Singapore, and representative offices in Bhutan and Cape Town. It also has an ADB in Boston, USA.

SBI operates several foreign subsidiaries or affiliates. In 1990, it established an offshore bank: State Bank of India (Mauritius).

In 1982, the bank established a subsidiary, State Bank of India (California), which now has ten branches – nine branches in the state of California and one in Washington, D.C. The 10th branch was opened in Fremont, California on 28 March 2011. The other eight branches in California are located in Los Angeles, Artesia, San Jose, Canoga Park, Fresno, San Diego, Tustin and Bakersfield.

The Canadian subsidiary, State Bank of India (Canada) also dates to 1982. It has seven branches, four in the Toronto area and three in British Columbia.

In Nigeria, SBI operates as INMB Bank. This bank began in 1981 as the Indo-Nigerian Merchant Bank and received permission in 2002 to commence retail banking. It now has five branches in Nigeria.

In Nepal, SBI owns 55% of Nepal SBI Bank, which has branches throughout the country. In Moscow, SBI owns 60% of Commercial Bank of India, with Canara Bank owning the rest. In Indonesia, it owns 76% of PT Bank Indo Monex.

The State Bank of India already has a branch in Shanghai and plans to open one in Tianjin.^[7]

In Kenya, State Bank of India owns 76% of Giro Commercial Bank, which it acquired for US$8 million in October 2005.^[8]..

The State Bank of India (with 74% of the total capital) along with the largest global banking group—BNP Paribas (with 26% of the remaining capital) headquartered in Paris—formed a joint venture which established India's most reputed and trusted life insurance company named SBI Life Insurance company Ltd. in March 2001.

Associate banks[link]

Main Branch of SBI in Mumbai.

SBI has five associate banks; all use the same logo of a blue circle and all the associates use the "State Bank of" name, followed by the regional headquarters' name:

• State Bank of Bikaner & Jaipur
• State Bank of Hyderabad
• State Bank of Mysore
• State Bank of Patiala
• State Bank of Travancore

Earlier SBI had only seven associate banks that constituted the State Bank Group. Originally, the then seven banks that became the associate banks belonged to princely states until the government nationalised them between October 1959 and May 1960. In tune with the first Five Year Plan, emphasising the development of rural India, the government integrated these banks into the State Bank of India system to expand its rural outreach. There has been a proposal to merge all the associate banks into SBI to create a "mega bank" and streamline operations.^[9]

The first step towards unification occurred on 13 August 2008 when State Bank of Saurashtra merged with SBI, reducing the number of state banks from seven to six. Then on 19 June 2009 the SBI board approved the merger of its subsidiary, State Bank of Indore, with itself. SBI holds 98.3% in State Bank of Indore. (Individuals who held the shares prior to its takeover by the government hold the balance of 1.77%.)^[10]

The acquisition of State Bank of Indore added 470 branches to SBI's existing network of 12,448 and over 21,000 ATMs. Also, following the acquisition, SBI's total assets will inch very close to the 10 trillion mark. The total assets of SBI and the State Bank of Indore stood at 9,981,190 million as of March 2009. The process of merging of State Bank of Indore was completed by April 2010, and the SBI Indore branches started functioning as SBI branches on 26 August 2010.^[11]

State Bank of India Mumbai LHO.

Non-banking subsidiaries[link]

Apart from its five associate banks, SBI also has the following non-banking subsidiaries:

• SBI Capital Markets Ltd
• SBI Funds Management Pvt Ltd
• SBI Factors & Commercial Services Pvt Ltd
• SBI Cards & Payments Services Pvt. Ltd. (SBICPSL)
• SBI DFHI Ltd
• SBI Life Insurance Company Ltd.
• SBI General Insurance

Current Board of Directors[link]

After the end of O. P. Bhatt's reign as SBI chairman on 31 March 2011, the post was taken over by Pratip Chaudhuri, who is the former deputy managing director of the international division of SBI. As of 4 August 2011, there are twelve members in the SBI board of directors, including Subir Gokarn, who is also one of the four deputy governors of the Reserve Bank of India. The complete list of the Board members is:

1. Pratip Chaudhuri (Chairman)
2. Hemant G. Contractor (Managing Director)
3. Diwakar Gupta (Managing Director)
4. A Krishna Kumar (Managing Director)
5. Dileep C Choksi (Director)
6. S. Venkatachalam (Director)
7. D. Sundaram (Director)
8. Parthasarathy Iyengar (Director)
9. G. D. Nadaf (Officer Employee Director)
10. Rashpal Malhotra (Director)
11. D. K. Mittal (Director)
12. Subir V. Gokarn (Director)^[12]

Branches of SBI[link]

• State Bank of India has 172 foreign offices in 37 countries across the globe.
• SBI has about 26,000+ ATMs (25,000th ATM was inaugurated by the then Chairman of State Bank Shri O.P. Bhatt on 31 March 2011, the day of his retirement); and SBI group(including associate banks) has about 45,000 ATMs.
• SBI has 21,500 branches, including branches that belong to its associate banks.
• SBI includes 99345 offices in India.
• India's number one ADB is in bellary i e State bank of India bellary ADB

Symbol and slogan[link]

• The symbol of the State Bank of India is a circle and a small man at the center of the circle (and not a key hole). A circle depicts perfection and the common man being the centre of the bank's business.
• Slogans : "Pure banking nothing else"

also includes : "With you – all the way" "a bank of common man" and " Banker to every Indian"

Loan to NTPC[link]

On 8 July 2011, SBI agreed to give a loan of 100 billion to NTPC (National Thermal Power Corporation), making it the largest loan SBI had ever given to any single customer in its entire 200 year history. The loan had a "door-to-door" maturity period of 12 years, accompanied by a drawdown period of four years. An NTPC press release said at the time of the declaration of the loan that: "The loan shall be utilized for financing the capital expenditure of ongoing and new projects."

NTPC chairman at the time, Arup Roy Choudhury clarified that the loan amount would be used to add 128,000 MW capacity by the end of year 2032 (NTPC'c capacity at the time of the declaration of the loan was 34,584 MW).^[13]

This loan was offered amidst declining finance for power projects in India, which were a direct result of the lending constraints placed by the Reserve Bank of India and the increased risk awareness of power projects. It will also help minimise the shortfall of around 4.51 trillion that the Power Ministry of India expected to incur in achieving the objectives of the Eleventh Five Year Plan (This plan targeted an addition of 78,577 MW or power generation capacity which would require an investment of 10.3 trillion).^[14]

Recent awards and recognitions[link]

• Best Online Banking Award, Best Customer Initiative Award & Best Risk Management Award (Runner Up) by IBA Banking Technology Awards 2010
• The Bank of the year 2009, India (won the second year in a row) by The Banker Magazine
• Best Bank – Large and Most Socially Responsible Bank by the Business Bank Awards 2009
• Best Bank 2009 by Business India
• The Most Trusted Brand 2009 by The Economic Times
• Most Preferred Bank & Most preferred Home loan provider by CNBC
• Visionaries of Financial Inclusion By FINO
• Technology Bank of the Year by IBA Banking Technology Awards
• SKOCH Award 2010 for Virtual corporation Category for its e-payment solution
• The Brand Trust Report^[15]: 11th most trusted brand in India.

See also[link]

• List of companies of India
• List of banks in India
• Fortune India 500
• Fortune Global 500

References[link]

External links[link]

Wikimedia Commons has media related to: State Bank of India

• Official website

v t e Central PSU companies of India Air India Balmer Lawrie Bank of India Bharat Electronics Bharat Heavy Electricals Limited Bharat Petroleum Bharat Sanchar Nigam Limited Cement Corporation of India Coal India Limited Dredging Corporation of India Limited Electronics Corporation of India Limited Food Corporation of India GAIL Hindustan Aeronautics Limited HMT (India) Indian Oil Corporation Indian Rare Earths Limited Life Insurance Corporation of India Mazagon Dock Limited MECON Limited Mahanagar Telephone Nigam Limited NTPC Limited Nuclear Power Corporation of India Ltd Oil and Natural Gas Corporation PowerGrid Corporation of India Praga Tools Limited Rashtriya Ispat Nigam Rural Electrification Corporation Limited State Bank of India Steel Authority of India Limited Uranium Corporation of India

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v t e BSE SENSEX companies of India As of 19 March 2012: Airtel Bajaj Auto BHEL Cipla Coal India DLF HDFC HDFC Bank Hero MotoCorp Hindalco HUL ICICI Bank Infosys ITC Jaypee Group Jindal Steel & Power KEC International L&T Mahindra & Mahindra Maruti Suzuki NTPC ONGC Reliance Industries SBI Sterlite Industries Sun Pharma Tata Motors Tata Power Tata Steel TCS Wipro

v t e S&P CNX Nifty companies of India As of 19 March 2012: ACC Bajaj Auto BHEL Bharat Petroleum Bharti Airtel Cipla Dabur Dr. Reddy's Laboratories GAIL GlaxoSmithKline Grasim Industries Gujarat Ambuja Cements HCL Technologies HDFC HDFC Bank Hero MotoCorp Hindalco Industries HLL Hindustan Petroleum ICICI Bank Indian Petrochemicals Infosys ITC Limited Jet Airways L&T MTNL Mahindra & Mahindra Mahindra Satyam Maruti Udyog National Aluminium Company NIIT ONGC Oriental Bank of Commerce PNB Ranbaxy Laboratories Reliance Communications Reliance Infrastructure Reliance Industries Siemens SBI SAIL Sun Pharmaceutical Suzlon TCS Tata Motors Tata Power Tata Steel VSNL Wipro Zee

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Zbigniew Preisner (Polish pronunciation: [ˈzbiɡɲɛf ˈpɾajsnɛɾ]; born 20 May 1955 in Bielsko-Biała as Zbigniew Antoni Kowalski^[1]) is a Polish film score composer, best known for his work with film director Krzysztof Kieślowski.

Life[link]

Zbigniew Preisner studied history and philosophy in Kraków. Never having received formal music lessons, he taught himself music by listening and transcribing parts from records. His compositional style represents a distinctively spare form of tonal neo-Romanticism. Paganini and Jean Sibelius are acknowledged influences.^[2]

Work[link]

Preisner is best known for the music composed for the films directed by fellow Pole Krzysztof Kieślowski. His Song for the Unification of Europe, based on the Greek text of 1 Corinthians 13, is attributed to a character in Kieślowski's Three Colors: Blue and plays a dominating role in the story. His music for Three Colors: Red includes a setting of Polish and French versions of a poem by Wisława Szymborska, a Polish Nobel Prize-winning poet.

After working with Kieślowski on Three Colors: Blue, Preisner was hired by the producer Francis Ford Coppola to write the score for The Secret Garden, directed by Polish director Agnieszka Holland. Although Preisner is most closely associated with Kieślowski, he has collaborated with several other directors, winning a César in 1996 for his work on Jean Becker's Élisa. He has won a number of other awards, including another César in 1994 for Three Colors: Red, and the Silver Bear from the 47th Berlin International Film Festival 1997 for The Island on Bird Street.^[3]

In 1998, Requiem for My Friend, Preisner's first large scale work not written for film, premiered. It was originally intended as a narrative work to be written by Krzysztof Piesiewicz and directed by Kieślowski, but it became a memorial to Kieślowski after the director's death. The Lacrimosa from it appears in Terrence Malick's The Tree of Life (film). He composed the theme music for the People's Century, a monumental twenty-six part documentary made jointly in 1994 by the BBC television network in United Kingdom and the PBS television network in the United States. He has also worked with director Thomas Vinterberg on the 2003 film It's All About Love and provided orchestration for David Gilmour's 2006 album On An Island. Silence, Night and Dreams is Zbigniew Preisner's new recording project, a large-scale work for orchestra, choir and soloists, based on texts from the Book of Job. The premier recording, was released in 2007 with the lead singer of Madredeus, Teresa Salgueiro and boy soprano Thomas Cully from Libera.^[4]

Van den Budenmayer[link]

Van den Budenmayer is a fictitious 18th-century Dutch composer created by Preisner and director Krzysztof Kieślowski for attributions in screenplays.^[2] Preisner said Van den Budenmayer is a pseudonym he and Kieślowski invented "because we both loved the Netherlands". Music "by" the Dutch composer plays a role in three Kieślowski films. The first is The Decalogue (1988). The second is Three Colours: Blue (1993) in which a theme from his musique funebres is quoted in the Song for the Unification of Europe. Its E minor soprano solo is prefigured in the earlier film The Double Life of Veronique (1991), where circumstances in the story prevent the solo from finishing. The third is Three Colours: Red (1994).

Works[link]

Orchestral works[link]

• Requiem for my friend (1998)
• Life (1998)
• Silence, Night and Dreams (2007)
• Live in Gdańsk (September 22, 2008) (a David Gilmour live album)

Music for solo instruments[link]

• 10 Easy Pieces for Piano (2000)
  Performed by Leszek Możdżer

Theatre[link]

• Das Begräbnis (The Funeral) (2010)
  a play by Thomas Vinterberg and Mogens Rukov

Film scores[link]

• Prognoza pogody (1981)
• Bez konca (1985)
• Lubie nietoperze (1986)
• Przez dotyk (1986)
• The Lullabye (1987)
• Ucieczka (1987)
• To Kill a Priest (1988)
• A Short Film About Killing (1988)
• A Short Film About Love (1988)
• Kocham kino (1988)
• Dekalog (1988-9)
• Ostatni dzwonek (1989)
• Europa Europa (1990)
• Eminent Domain (1991)
• The Double Life of Véronique (1991)
• At Play in the Fields of the Lord (1991)
• Zwolnieni z zycia (1992)
• Olivier, Olivier (1992)
• Damage (1992)
• Three Colors: Blue (1993)
• The Secret Garden (1993)
• On the Edge of the Horizon (1993)
• Mouvements du désir (1994)
• Kouarteto se 4 kiniseis (1994)
• Three Colors: White (1994)
• When a Man Loves a Woman (1994)
• Three Colors: Red (1994)
• Feast of July (1995)
• Élisa (1995)
• Foolish Heart (1996)
• FairyTale: A True Story (1997)
• The Island on Bird Street (1997)
• The Last September (1999)
• Dreaming of Joseph Lees (1999)
• Aberdeen (2000)
• Weiser (2001)
• Between Strangers (2002)
• It's All About Love (2003)
• Strange Gardens (2003)
• Kolysanka (2003)
• SuperTex (2003)
• The Beautiful Country (2004)
• Sportsman of the Century (2006)
• Anonyma - Eine Frau In Berlin (2008)

References[link]

External links[link]

• Zbigniew Preisner official site
• Representative company of Zbigniew Preisner in Greece and Cyprus
• Interview with Preisner with director Edoardo Ponti.
• Zbigniew Preisner discography at MusicBrainz
• Zbigniew Preisner at the Internet Movie Database
• Television Interview with Preisner from C Music TV.