From Raj to riches: How SBI grew into a global economic force driving 1.1% of world GDP growth

From its colonial-era origins as the Imperial Bank of India to becoming a key pillar of global finance, the State Bank of India (SBI) has scripted an extraordinary economic journey. As per SBI’s special report titled “Kal, Aaj aur Kal”, the bank has grown to contribute nearly $44 billion to global GDP in FY25, or about 1.1% of the world’s GDP growth for the year.

The report highlights that in a world economy that expanded by $4.1 trillion last fiscal year, India accounted for $297 billion of that increase. And SBI alone, with its expanding asset base, added a staggering $44 billion, equivalent to 16% of India’s incremental GDP contribution.

This feat comes after 70 years of sustained transformation. Established in 1955 on the foundations of the Imperial Bank, SBI has emerged as India’s most profitable company for three consecutive years, with standalone net profit touching ₹70,901 crore in FY25. It now serves over 52 crore customers, a population larger than that of the United States, and operates in 29 countries across time zones, the report noted.

The numbers reveal the scale of change: from ₹210.95 crore in deposits in 1955 to over ₹53.82 lakh crore today; from 469 domestic branches to 22,937; from 14,388 employees to 2.36 lakh — SBI has grown not just in size but in significance. Its brand is now the 6th most valuable in India, and it ranks 44th globally among the world’s top 1,000 banks, according to the report.

But beyond the numbers, SBI’s impact is deeply social. It holds over a 25% share in flagship financial inclusion schemes like PMJDY and PMSBY. SBI has opened 15 crore accounts, enrolled 14.6 crore people under PMSBY, 6.7 crore under PMJJBY, and 1.73 crore in APY. Through its digital platform YONO, with over 8.8 crore users, it is making banking accessible, efficient, and integrated with everyday life, per the report.