The State Bank of India is going to hire about 18000 personnel in its latest recruitment drive. The bank will hire approximately 14000 people in the clerical department, 1600 in the systems department, and about probationary officers (PO), says a report by The Economic Times. This is the biggest recruitment of the largest bank in the country in a decade.
CS Setty, Chairman of SBI, said that the move is aimed at strengthening the technology and general banking side of the bank. He said that the bank has been transforming its tech offering to the customers for a better user experience. The bank is also recruiting for specialized roles like data scientists, network operators, and data architects.
Massive Size of SBI
The State Bank of India has a balance sheet of over Rs 66 trillion. It has 22937 branches and 64000 ATMs. In FY25, the bank reported deposits of over Rs 53 lakh crore, an increase of 26 percent from the previous year. The bank has about 8.7 crore registered users on its mobile banking app YONO.
The State Bank of India is among the leading employers in the country. The bank had a total employee count of 232,296 as of March 2024. The number of employees has been increasing as the bank has planned to add 300-400 branches every year.
SBI’s latest performance-
The State Bank of India registered a 16.08 percent yoy growth in the FY25. The bank posted a net profit of Rs 70,901 crore. However, the bank saw a 9.9 percent yoy dip in its fourth quarter profit as it posted a profit of Rs 18,643 crore, while in the same quarter the year before it had posted a profit of Rs 20,698 crore.
SBI declared a dividend of Rs 15.90 per share for its shareholders in the FY25. Earlier in FY24, the bank had given a dividend of Rs 13.7 per share to its shareholders.