Please note that with effect from 01/01/2017 the instant Rupee remittances services will be available only for the customers of SBI Antwerp branch. We request all others not to send money to us through other banks henceforth.
State Bank of India (SBI) is an Indian multinational, public sector banking and financial services company. It is the largest commercial bank in India in terms of Assets, Deposits, Branches, Customers and Employees. It is a government owned corporation with its headquarters in Mumbai, Maharashtra. As on 31 March 2017, Government of India held around 61.23% equity shares in SBI. Life Insurance Corporation of India is the largest non-promoter shareholder in the company with 8.82% shareholding.
The roots of the State Bank of India lie in the first decade of the 19th century, when the Bank of Bengal was established on 2ndJune 1806. The Bank of Bengal was one of three Presidency banks, the other two being the Bank of Bombay (15th April 1840) and the Bank of Madras (1st July 1843). The Presidency banks amalgamated on 27 January 1921 into Imperial Bank of India. Pursuant to the provisions of the State Bank of India Act of 1955, the Reserve Bank of India, which is India's central bank, acquired a controlling interest in the Imperial Bank of India. On 1 July 1955, the imperial Bank of India became the State Bank of India. In 2008, the Government of India acquired the Reserve Bank of India's stake in SBI so as to remove any conflict of interest because the RBI is the country's banking regulatory authority.
On 1st April, 2017, SBI merged its five Associate Banks (State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore) and BharatiyaMahila Bank with itself. This is the first ever large scale consolidation in the Indian Banking Industry. With the merger, State Bank of India has entered the league of top 50 global banks with a balance sheet size of USD 531billion, Deposits of USD 400 billion, 278,000 employees, 420 million customers, and more than 24,000 branches and 59,000 ATMs. It has more than 33 billion as capital and reserves. After merger, SBI's commands a market share of more than 23 percent shares of the domestic banking market. SBI has global presence with 198 offices across 37 countries and 301 correspondents in 72 countries. It is ranked 232nd on the Fortune Global 500 list of the world's biggest corporations as of 2016.
SBI's non-banking subsidiaries/joint ventures are market leader in their respective areas and provide wide ranging services, which include life insurance, merchant banking, mutual funds, credit cards, factoring services, general insurance, security trading, pension funds, payment solutions, custodial services, making the SBI group a truly large financial supermarket and India's financial icon. It is leader in digital banking with highest number of internet banking and mobile banking customers. SBI has arrangement with over 1500 various international/local banks to exchange financial messages through SWIFT in all business centres of the world to facilitate trade related banking business, reinforced by dedicated and highly skilled team of professionals.
SBI group is presently headed by Mr Rajnish Kumar.
STATE BANK OF INDIA, Antwerp was opened on the 15th July 1983. The branch started meeting the growing trade between the BENELUX countries and India, with emphasis on the growing Belgo Indian diamond trade. Today, we have an active trade desk financing a variety of exports from EU countries. We offer quick and reliable remittance facilities to India and other countries at competitive rates. We actively participate in global syndications and facilitate acquisition and mergers of companies in EU region besides meeting the India related business needs of European companies. A team of committed and motivated staff offer a variety of services and financial products at competitive pricing.
Mr. Arvind Kumar Singh is presently the Chief Executive Officer of SBI Antwerp operations.
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