[sbinews] The Biggerst Bank - SBI (Business Today) (html version)

  • From: "Rajendra S. Pai" <rs.pai@xxxxxxxxx>
  • To: <sbinews@xxxxxxxxxxxxx>
  • Date: Fri, 24 Dec 2004 08:55:52 +0530

      The Biggest Bank
      SBI beats the others hands down.            "We have good size and 
excellent geography in India, and we would be interested in exploring 
acquisitions overseas"
            A. K. Purwar
            Chairman and Managing Director, SBI       With Rs 3,18,619 crore in 
deposits and average working funds of Rs 3,75,804 crore, the State Bank of 
India (SBI) stands tall in the industry. The closest competitors aren't a third 
as big as SBI. Punjab National Bank ranks #2 in deposits, but has deposits of 
just Rs 87,816 crore. ICICI Bank is the second biggest as far as average 
working funds are concerned, but that stacks up to just Rs 1,06,593 crore. SBI, 
which accounts for 18 per cent of all deposits with commercial banks in India, 
is able to mop up such large amounts in low-cost deposits because of its sheer 
reach: it has 13,635 branches spread all over the country. Can SBI hold on to 
its top slot? For the next few years, easily. There are other bigger 
banks-ICICI Bank, for one-that are growing aggressively. Last year, while SBI's 
deposits grew 7 per cent, those of new private banks swelled at 29.6 per cent. 
Add to it the coming mergers and acquisitions (M&As), and SBI's position will 
come under threat. Says A. K. Purwar, Chairman and Managing Director, SBI: "We 
have good size and excellent geography in India, and we would be interested in 
exploring acquisitions overseas." To keep its lead, the banking elephant will 
have to learn to dance. 

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