SBI Named Best Bank in India for 2024 by Global Finance Magazine

State Bank of India (SBI) has been awarded the title of Best Bank in India for 2024 by Global Finance Magazine during its 31st Annual Best Bank Awards, held in Washington, coinciding with the Annual Meetings of the IMF and the World Bank. SBI Chairman CS Setty accepted the award, highlighting the bank’s dedication to exceptional services and its role in promoting financial inclusion across the nation. This recognition underscores SBI’s long-standing commitment to winning customer trust and its pivotal role in the evolving Indian banking landscape.

Award Significance

The Global Finance Best Bank Awards are renowned for their credibility, serving as a benchmark for assessing financial institutions worldwide. The awards provide valuable insights for corporate decision-makers, especially amid global economic challenges.

SBI’s Growth and Digital Initiatives

SBI, with an extensive network of over 22,500 branches and 62,000 ATMs, continues to enhance its services through the YONO digital platform. In the first quarter of FY25, 63% of new savings accounts were opened digitally, along with pre-approved personal loan disbursements totaling ₹1,399 crore through YONO. This innovative approach reflects SBI’s ongoing efforts to adapt to the changing banking environment and cater to customer needs effectively.