Mumbai, November 25th, 2015: India’s largest public sector bank State Bank of India (SBI) has propelled its position from 39th to 35th in the Brand Equity’s Most Trusted Brands survey 2015. SBI is the only bank to be featured in the top 100 brands conducted by Nielsen survey. It is also adjudged India's most valued banking brand. The most trusted brand identifies brands that have the most special element: The consumer’s trust.
Conducted by Nielsen, Most Trusted Brand remains amongst the largest researches of its kind in India, with a design sample of 7,200 –distributed across socio economic classifications, age, income and geography. This research was carried out in 3 stage to make it more comprehensive. The study was carried out in 12 cities across India. The methodology was modified to improve quality of responses.
About State Bank of India
State Bank of India (SBI) is the largest commercial bank in India in terms of assets, deposits, profits, branches, customers and employees. The Company provides Domestic Operations, International Operations and Treasury Operations. SBI group consists of SBI and five associate banks. The group has an extensive network, with over 22000 plus branches in India and over 190 offices in 36 other countries across the world. As of 31st Sept, 2015, the group had assets worth USD 432 billion and capital & reserves in excess of USD 25 billion. The SBI has over 1/5th market share of the Indian banking sector. SBI's non- banking subsidiaries/joint ventures are market leaders in their respective areas and provide wide ranging services, which include investment banking, life insurance, general insurance, mutual funds, credit cards, factoring services, security trading, etc making the SBI Group a truly large financial supermarket and India's financial icon. The bank has over 16,000 domestic branches, 200 foreign branches and close to 57,000 pan-India ATMs. To acknowledge the loyalty of its customers for their faith and long standing relations, bank launched Enterprise Wide Loyalty Programme – State Bank Rewardz. During the year, bank also launched a mobile wallet State Bank ‘Buddy’; one more step in bank’s ambition of becoming Banker to digital India.