SBI turns 70, Today is the 70th Foundation day of SBI

India’s Largest Bank – State Bank of India (SBI) is celebrating 70th foundation day today i.e. 1st July 2025. SBI is now 70 years old and was established on 1 July 1955.

It is the largest bank in India with a 23% market share by assets and a 25% share of the total loan and deposits market. It is also the tenth largest employer in India with nearly 250,000 employees. As of 2024, SBI has 500 million customers. This shows the big impact SBI has on Indian Economy.

The bank originally started as the Bank of Calcutta in 1806, making it the oldest commercial bank in the Indian subcontinent. Later, the Bank of Madras merged with the Bank of Calcutta and the Bank of Bombay to form the Imperial Bank of India. On 1 July 1955, the Imperial Bank of India was renamed as the State Bank of India (SBI).

Year	Description
1806	The Bank of Calcutta, later known as the Bank of Bengal, was founded as a joint-stock bank.
1809	The Bank of Calcutta was restructured and renamed as the Bank of Bengal.
1840	The Bank of Bombay was founded as the second presidency bank in British India.
1843	The Bank of Madras was established as the third presidency bank.
1921	The Bank of Bengal, Bank of Bombay, and Bank of Madras joined together to make a new bank called the Imperial Bank of India.
1955	The Imperial Bank of India was nationalized and became the State Bank of India (SBI).

Today, SBI is the largest public sector bank in India. Today, SBI has over 22,000 branches and over 63,000 ATMs. SBI posted a consolidated net profit of ₹77,561 crore (approximately $9.2 billion) in FY25. But did you know – how many branches SBI had in 1955? Let’s have a look at the data of SBI when it was established.

Category	Then (As on 01.07.1955)
Number of branches	477
Foreign Offices	8
Employee Strength	14,388
Total Business	₹327 crores
Net Profit	₹1 crore

The SBI logo was designed by the National Institute of Design, Ahmedabad in 1971. The logo was designed by Shekhar Kamat and the logotype in 14 Indian languages was designed by Mahendra Patel.

SBI is the largest banking and financial services organization in India, with an asset base of over Rs. 61 trillion. State Bank of India serves over 50 crore customers through a vast network of over 22,500 branches, 63,580 ATMs/ADWMs, 82,900 BC outlets.

The Bank has successfully diversified its business through various subsidiaries like SBI General Insurance, SBI Life Insurance, SBI Mutual Fund, SBI Cards etc. The Bank has expanded its global presence and operates through 241 offices in 29 countries across the world in different time zones.