Affiliates - Affiliates
1. SBI LIFE INSURANCE COMPANY LIMITED (SBI-LIFE)
SBI Life Insurance , one of the most trusted life insurance companies in India, was incorporated in October 2000 and was registered with the Insurance Regulatory and Development Authority of India (IRDAI) in March 2001. Serving millions of families across India, SBI Life’s diverse range of products caters to individuals as well as group customers through Protection, Pension, Savings and Health solutions. Driven by ‘Customer-First’ approach, SBI Life places great emphasis on maintaining world class operating efficiency and providing hassle-free claim settlement experience to its customers by following high ethical standards of service. Additionally, SBI Life is committed to enhance digital experiences for its customers, distributors, and employees alike.
For more information, please visit:
2. SBI GENERAL INSURANCE COMPANY LIMITED (SBI GENERAL)
SBI General is one of the fastest growing private general insurance companies, with the strong parentage of SBI. The team at SBI General Insurance, is committed to carry forward the legacy of trust and security; and has a vision is to become the most trusted general insurer for a transforming India.
Ever since its establishment in 2009, from 17 branches in 2011, the company has expanded its presence to over 137 branches pan-India. Till date, company has served over 6 crore customers. It has been awarded ‘Insurer of the Year’ in the non-life category at FICCI Insurance Industry Awards, for two consecutive years in 2020 & 2021.
SBI General has a robust multi-distribution model encompassing Bancassurance, Agency, Broking, Retail Direct Channels and Digital tie-ups. The widespread network of distributors like 22000 plus SBI branches, Agents, Other financial alliances, OEMs, and multiple digital partners enables the company to extend its reach to the pocketed remote areas of India. The Company offers a bouquet of products spread across wide range of line of businesses to cater customers in all segments like Retail, Corporate, SME and Rural, ensuring the accessibility in both forms i.e., digital as well as physical.
SBI General Insurance reported a 11% growth in Gross Written Premium (GWP) in FY 2021-22 and the GWP stood at INR 9260 crore. With the increasing need of health insurance, the Company has a very channelized strategy for health insurance business, which has reflected in 50% growth in health insurance GWP for the FY2021-22.
For more information, please visit:
3. SBI CARDS AND PAYMENT SERVICES LIMITED (SBICPSL)
SBICPSL is a subsidiary of State Bank of India. SBICPSL is a non-banking financial company and is India’s largest pure play credit card issuer with a base of over 13.7 million cards in force, as of March 2022. SBI Card offers extensive credit card portfolio to individual cardholders and corporate clients which includes lifestyle, rewards, travel & fuel, and banking partnership cards along with corporate cards, covering all major cardholders’ segments in terms of income profile and lifestyle. The company has diversified customer acquisition network that enables it to engage prospective customers across multiple channels.
For more information, please visit : https://www.sbicard.com
4. SBI FUNDS MANAGEMENT LIMITED(SBIFML)
SBIFML is a Joint Venture between SBI and AMUNDI (France), one of the world’s leading asset management companies. SBIFML, Asset Management Company, is amongst the fastest growing AMCs with a growth of over 28.3% against the industry average of 19.5% in 2021-22.
For more information, please visit
5. SBI CAPITAL MARKETS LIMITED ( SBICAPS)
SBICAP is India’s leading investment banker, offering a bouquet of investment banking and corporate advisory services to diversified clients across three product groups - Project Advisory and Structured Finance, Equity Capital Markets and Debt Capital Markets. These services include Project Advisory, Loan Syndication, Structured Debt Placement, Mergers and Acquisitions, Private Equity, Restructuring Advisory, Stressed Assets Resolution, IPO, FPO, Rights Issues, Debt, Hybrid Capital raising, InvIT advisory, REIT advisory and COC advisory (Committee of Creditors).
For more information, please visit www.
6. SBICAP Securities Ltd (SSL)
SSL, a wholly owned subsidiary of SBI Capital Markets Ltd, is the retail broking arm of the SBI Group. SSL offers its customers a variety of products and services to choose from – such as Equity, Derivatives, Mutual Funds, Insurance Products, Corporate FDs etc. through state of art trading platform on mobile app, website and through dealer terminal. SSL is also a captive sourcing arm of the State Bank of India for sourcing Home Loan and Auto Loan business.
For more information please visit
7. SBICAP Ventures Limited (SVL)
SVL is SBI’s Asset Management Arm handling alternate investments and one of India’s fastest growing asset managers in this space. Set up in year 2005, SVL is a wholly owned subsidiary of SBI Capital Markets Limited.
SVL currently manages 3 Alternate Investment Funds (AIF) with aggregate committed capital of INR 12,500 crores. SVL has a successful track record of investing pan-India in stressed residential real estate and MSME sector including renewable energy, waste management and climate related investments. SVL is also fund manager to two Fund of Funds with target corpus of INR 15,000 crores with principal focus on MSME sector.
Major global investment partners of SVL includes Foreign and Commonwealth Development Organisation (FCDO) of UK Government, European Investment Bank (EIB) and Japan International Cooperation Agency (JICA).
For more information, please visit https://sbicapventures.com/
8. SBICAP TRUSTEE COMPANY LIMITED (STCL)
STCL is a wholly owned subsidiary of SBI Capital Markets Limited (SBICAP) which in turn is a wholly owned subsidiary of State Bank of India (SBI).
STCL is registered with Securities and Exchange Board of India (SEBI) to act as a Debenture Trustee. It offers a whole bouquet of services viz. Security Trusteeship, Debenture Trusteeship, Alternate Investment Fund Trusteeship, Share Pledge Trusteeship, Escrow Trusteeship, Facilitator for the execution of Will, Safe Keeper, Virtual Data Room Services, Facility Agent, etc
It is guided by the principle of Long-Term Relationship, Fairness & Transparency in all transactions and Customer Delight. Customer Satisfaction is our main motto which is achieved with Professional Competence and leveraging digital technology.
For more information, please visit www.sbicaptrustee.com
9. SBI SG GLOBAL SECURITIES SERVICES PRIVATE LIMITED (SBI-SG)
SBI-SG, a joint venture between State Bank of India (SBI) and Société Générale (SG)with 65% holding by SBI. The Company was set up to offer high quality custodial and fund accounting services to domestic and foreign institutional investors supplemented by the bouquet of premier banking services of SBI. SBI- SG commenced commercial operations in 2010. It is among the top 5 Custodians and among the top 2 in Fund Accounting services in India. SBISG has been winning acclaim for its services and has been recently won the coveted Global Custodian Award for Agent Banks in Emerging Markets (ABEM) 2021, for Custody services and has been recognized as Global Outperformer & Category Outperformer.
For more information, please visit www.sbisgcsl.co.in
10. SBI DFHI LIMITED (SBI DFHI)
SBI DFHI Limited is one of the largest standalone Primary Dealers (PD) with a pan India presence. As a Primary Dealer (PD) it is mandated to support the book building process in primary auctions and provide depth and liquidity to secondary markets in G-Sec. Besides Government securities, it also deals in money market instruments, non-G-Sec debt instruments, amongst others. As a PD, its business activities are regulated by RBI.
For more information, please visit www.sbidfhi.com
11. SBI Payment Services Pvt Ltd. (SBI Payments)
SBI became the first public sector bank to form an exclusive Joint Venture i.e., SBI Payments for merchant acquiring business and holds 74% stake in the company. SBI Payments is one of the largest acquirers of the country with presence across more than 5000 centres PAN India. The objective is to create a state-of-the-art acceptance ecosystem in all geographies of the country and enable the merchants to accept payments digitally through various form factors such as PoS, Bharat QR, BHIM-Aadhaar, NETC, Soft PoS etc.
For more information, please visit:
12. SBI GLOBAL FACTORS LIMITED (SBIGFL)
SBIGFL is a leading provider of factoring services for domestic and international trade. SBI holds 86.18% share in the Company. The Company’s services are especially suitable for MSME clients for freeing up resources locked in book debts. The Company is actively participating in bidding on the TReDS platforms. By virtue of its membership of Factors Chain International (FCI), the Company can ameliorate credit risk from export receivables under the 2-factor model.
For more information, please visit
13. SBIPENSION FUNDS PRIVATE LIMITED
SBIPFPL has been appointed as the Pension Fund Manager (PFM) along with six others to manage the pension corpus under National Pension System (NPS). SBIPFPL is one of the three PFMs appointed by the Pension Fund Regulatory & Development Authority (PFRDA) for management of Pension Funds under the NPS for Central Government (except Armed Forces) and State Government employees and one of the seven PFMs appointed for management of Pension Funds under the Private Sector.
For more information, please visit http://www.sbipensionfunds.com
Foreign Subsidiaries/joint ventures
SBI Canada Bank
SBI Canada Bank (SBIC) was established in 1982 as a wholly owned subsidiary of State Bank of India.
- The Bank is active in both Corporate and Retail Business and provides full-service banking to meet the needs of its retail, commercial and corporate customers, including accounts, credit cards, mortgages, loans, remittances and more in Canada.
- The Bank operates six full service branches and one extension counter with head office located in Toronto.
Further details of the bank can be accessed at https://ca.statebank
State Bank of India (California) (SBICAL)
State Bank of India (California) was established in 1982 as a wholly owned subsidiary of State Bank of India.
- Bank is active in both Corporate and Retail Business.
- State Bank of India (California) is a full-service financial institution, offering an extensive portfolio of lending solutions as well as comprehensive consumer, business, and international services.
- The Bank operates seven full service branches throughout California with its headquarters located in Downtown Los Angeles.
Further details of the bank can be accessed at https://www.sbical.com
SBI (Mauritius) Ltd:
SBI (Mauritius) Ltd started operation in Mauritius in 1989 as SBI (International) Mauritius Ltd. The main focus was on Global Banking Business.
- In 2005, the Bank entered into local business by acquiring Indian Ocean International Bank (IOIB) Ltd.
- State Bank of India is having 96.60% shareholding in SBI (Mauritius) Ltd
- The Bank operates in both offshore as well as domestic sector offering products and services in Global, Corporate, Retail and Personal Segment.
- SBI (Mauritius) Ltd is having 14 fully integrated Branches and 19 ATMs across the length and breadth of the country.
Further details of the bank can be accessed at www.sbimauritius.com
State Bank of India (UK) Ltd
SBI (UK) Ltd was established in 2018 as wholly owned subsidiary of State Bank of India.
- The bank is having 12 branches across the UK.
- SBI (UK) Ltd is primarily a retail focused Subsidiary and its products and services include – Commercial Lending, Buy to let Mortgages, Cash ISA’s, Safe Deposit Lockers, Instant Access Savings Account, Business Account and Fixed Deposits
Further details of SBI (UK) Ltd can be accessed at www.sbiuk.com
Nepal SBI Bank Ltd.
Nepal SBI Bank Ltd was established in 1993 as subsidiary of State Bank of India with stake of 55% in partnership with EPF of Nepal who have a stake of 15% in the Subsidiary.
- The bank is having an extensive network of branches and ATMs spread across the Nepal.
- Nepal SBI Bank Ltd has presence in varied business segments like Retail, SME, Project Finance etc.
Further details of Nepal SBI Bank Ltd can be accessed at https://nsbl.statebank
PT Bank SBI Indonesia
SBI entered Indonesia in 2007 by acquiring 76% stake in PT Bank Indo Monex and the Subsidiary was renamed as PT Bank SBI Indonesia.
- The stake was gradually increased to 99% by 2015.
- The Bank is presently a BUKU II Category Bank with business spread across Corporate, Retail SME and Trade Finance.
- SBI Indonesia is having a network of 10 Branches and 10 ATMs across Indonesia.
Further details of the bank can be accessed at www.sbiindo.com
Commercial Indo Bank LLC
Commercial Indo Bank LLC (CIBL), Moscow, came into existence in 2003 as Commercial Bank of India LLC (CBIL) as JV of SBI & Canara Bank (60:40) by converting respective Representative Offices into a full-fledged Bank.
- The Bank was renamed as Commercial Indo Bank LLC (CIBL) in 2014
- CIBL has license for “Corporate Banking” and has been functioning as one Branch Bank.
Further details of the bank can be accessed at http://cibl.ru
Bank of Bhutan Limited (BoBL)
- Bank of Bhutan Ltd (BoBL) was established in 1968 by a Royal Charter issued by the Royal Government of Bhutan (RGOB).
- It also acted as the Central Bank of Bhutan till establishment of the Royal Monetary Authority of Bhutan in 1982.
- BoBL is the largest commercial bank in Bhutan and having 47 branches across the country.
- SBI is holding 20% shares in the Bank
- BoBL provides a range of financial products and services, such as deposits, loans, trade finance, credit cards and e-payment gateway services
Further details of the bank can be accessed at https://www.bob.bt
Last Updated On : Friday, 16-12-2022