State Bank of India (SBI) plans to hire about 12,000 employees and add around 250 new branches to its network in the ongoing financial year, said C S Setty, Chairman of the SBI.
11,000 to 12,000 appointments will be made across both clerical and officer cadres this year. This number may vary depending on retirements and emerging requirements, but it’s expected that vacancies will remain around 12,000.
Last year, SBI had recruited 1,500 specialist IT officers. SBI had hired 4,640 officers, 19,340 associates, and 1,653 contractual staff in 2025-26, taking the total number of hires to 25,633, as per the bank’s annual report for FY26.
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SBI may also open around 200 to 250 new branches this year.
About stake dilution in the National Stock Exchange (NSE), Setty said, SBI and its subsidiary SBI Capital Markets Ltd together plan to dilute up to 1 per cent stake through the exchange’s proposed Rs 30,000-crore initial public offering (IPO).
“We are participating in that divestment. We propose to divest 0.65 per cent and 0.35 per cent by SBI Capital Markets because both of us hold the stake. So together, about 1 per cent as an SBI group… it could be less depending on any other shareholders joining,” he said.
SBI currently holds a 3.23 per cent stake in the NSE, while SBI Capital Markets owns 4.33 per cent in the country’s largest stock exchange.
