SBI to Open 500 New Branches by March 2025: Nirmala Sitharaman
SBI to open 500 new branches by March 2025, expanding its network to 23,000. Serving 50 crore customers, it processes 20 crore daily UPI transactions and holds a 22.4% deposit market share.
SBI to Open 500 New Branches by March 2025: Nirmala Sitharaman
Mumbai: Finance Minister Nirmala Sitharaman announced that the State Bank of India (SBI) will add 500 new branches nationwide by the end of the current financial year. This expansion will increase SBI’s total branch count to 23,000.
Speaking at the centenary celebration of SBI’s head office in Mumbai, Sitharaman reflected on the bank's growth since its inception in 1921. Initially formed by merging three Presidency Banks into the Imperial Bank of India, it was renamed the State Bank of India in 1955 through a Parliamentary Act. From just 250 branches in 1921, SBI now operates 22,500 branches, serving over 50 crore customers.
Sitharaman also highlighted SBI's contribution to India’s banking sector, holding 22.4% of the total deposit market share. The bank processes an impressive 20 crore UPI transactions daily, showcasing its robust digital adoption.
As part of the celebrations, a ₹100 commemorative coin was launched to honor SBI’s century-long journey. Currently, 43 SBI branches in India have a rich history spanning over 100 years.
