Feb 13 • 01:33 UTC 🇮🇳 India Aaj Tak (Hindi)

SBI has made history, learn when and how this bank started

The State Bank of India (SBI) has achieved several milestones, becoming the second-largest bank in the country and surpassing ICICI Bank in market capitalization following impressive quarterly results.

The State Bank of India (SBI) has recently made headlines for experiencing significant stock market growth. Following the announcement of strong quarterly results, SBI's shares surged by 11% over the last five days, closing at ₹1,192, with an intra-day peak of ₹1,203. This remarkable increase has positioned SBI as the fourth largest company in India by market capitalization, now standing at ₹11.01 trillion, ahead of ICICI Bank and Tata Consultancy Services (TCS), with only Reliance Industries, HDFC Bank, and Bharti Airtel surpassing it.

SBI's achievement in market capitalization is significant for the Indian banking sector and reflects broader economic trends. With over 23,000 branches across the country, SBI has become an integral part of India's financial infrastructure. Its history spans nearly 200 years, showcasing a rich legacy of service and growth. Such performance highlights SBI's pivotal role in the market and its increasing competitiveness against private sector banks.

The recent developments not only underline SBI's current success but also its potential for future growth. As investors react to the strong quarterly results, the rally in SBI's shares demonstrates heightened confidence in the bank's strategies moving forward. This situation raises questions about how SBI will navigate the challenges ahead, particularly in remaining competitive in a dynamic banking landscape dominated by both traditional and new-age financial institutions.

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