State Bank of India, India’s largest Commercial Bank in terms of assets, deposits, branches, number of customers and employees, enjoys the continuing faith of millions of customers across the social spectrum.
Founded in 1806, Bank of Calcutta was the first Bank established in India, and over a period of time, evolved into State Bank of India (SBI). SBI represents a sterling legacy of over 211 years. It is the oldest Commercial Bank in the Indian subcontinent, strengthening the nation’s trillion-dollar economy and serving the aspirations of its vast population. The Government of India is the single largest shareholder of the Bank, ranked 217th on the Fortune Global 500, with 61.23% ownership. The equity shares of SBI are listed on the Bombay Stock Exchange Limited, Mumbai along with the National Stock Exchange, Mumbai and the Global Depository Receipts(GDRs) are listed on the London Stock Exchange (LSE).
SBI, headquartered in Mumbai, has an extensive network, with over 22,000 plus branches in India, 59,000 Pan-India ATMs and 207 overseas offices spread over 35 countries having the largest presence in foreign markets among Indian banks. On 1st April, 2017, the Bank merged five of its Associate Banks and Bharatiya Mahila Bank with itself. With this first ever large scale consolidation in the Indian Banking Industry, the Bank entered the league of top 50 global banks with assets worth more than USD 531 billion, 209,572 employees, 500 million customers and 740 million accounts.
SBI offers a wide range ofproducts and services to individuals, commercial enterprises, large corporates and institutional customers.
SBI puts customers and clients at the center of everything it does and by continuing to do this, it will always remain the “Smart Bank” to partner with. SBI’s non-banking subsidiaries/joint ventures are market leaders in their respective areas and provide wide ranging services, which include insurance, merchant banking, mutual funds, credit cards, factoring services, security trading and primary dealership, making the SBI Group a truly large financial supermarket and India’s financial icon. SBI has arrangements with various international / local banks to exchange financial messages in all business centers of the world to facilitate trade related banking business, reinforced by dedicated and highly skilled teams of professionals.
SBI CHICAGO Branch
SBI, the most trusted brand in the banking horizon in India, has had a remarkable presence for over 40 years in the US, with the opening of it’s CHICAGO branch in 1975. The branch is FDIC insured and offers a bouquet of services to the clients by dedicated verticals for Corporate Credit, Trade Finance, Deposits and Remittances.
The various focus areas are as detailed below:
Corporate Credit:The branch facilitates raising both Fund Based and Non-Fund based debt in USdollars by corporates through bilateral and syndicated arrangements.
Deposit &Remittances: Dedicated teams at the branch cater to both Corporate and Individual clients and offer Deposit Accounts comprising Certificate of Deposits, Money Market Deposits and Checking Accounts with facilities like ATM cum Debit Cards,Internet Banking and Online Account Opening. Remittance services in USD are also being offered.
Trade Finance:The branch offers innovative products on state of the art platforms. The offerings include Letters of Credit, SBLCs, Trade Credits and Multilateral Agency (ECA/MLA) Backed / Partnered Finance.