[sbinews] The Biggest Bank -SBI (Business Today) -Text version

  • From: "Rajendra S. Pai" <rs.pai@xxxxxxxxx>
  • To: <sbinews@xxxxxxxxxxxxx>
  • Date: Fri, 24 Dec 2004 08:55:51 +0530

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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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